This is a sort of hardware / software announcement for Spotify, a hardware partnership with a number of big names in audio like Philips, Pioneer, Bang & Olufsen, Denon, Marantz and Yamaha that allows you to keep the party going on those Spotify playlists. Start playing one on your handset, click play on a compatible speaker system, and it will keep streaming on the speaker without interruption -- even when you take a call or leave the vicinity of your WiFi network. The audio system will actually start streaming music directly from the cloud. That means you can, say, turn on an iPad in another room and let your party guests skip songs -- though, granted, that might not be the greatest idea, depending on who you invite.
Specific devices have yet to be named, though compatible systems will be branded with a Spotify Connect logo, so you'll know what you're getting yourself into. Those should be arriving in a late-October / early-November timeframe. Spotify will be holding up its end of the bargain by rolling out a software update for iOS ahead of those launches. Android and other operating systems will be receiving it at a later date.