Both for fans, who anticipate upcoming releases, and artists who seek to promote their new albums, a feature that puts on display upcoming album release dates would be awesome.
One way to promote album release dates could be creating a list of upcoming releases for people to explore. This could include a section to browse with different lists of upcoming releases curated from artists you follow, listen to, or might enjoy allowing users to have one place where they know what to look forward to. Fans could even click on an album from the list to get details or hear the most recent single. This could be implemented as another section to enter when you go to the Search tab. There is already a section for New Releases and Concerts and I think Upcoming Releases would make sense as well.
Having a section formatted more like the Concert section might make more sense if the actual album is not in Spotify’s system and available to view.
There are some artists people follow closely. They know exactly when the album is dropping, tickets go on sale, etc... but there are also a lot of artists that people enjoy that they don’t follow as closely and have no idea that an album is about to drop.
More could be done to show information about upcoming releases, which is a missed opportunity to help artists and fans connect and get excited about new music. Even something small to add a banner about release dates on the artists page, would be a good first step.