Quoted from the FAQ page on followers/following:
We have changed “friends” to “following” and “followers”. This change will help us provide better recommendations for you in the future.I guess I can see where you were going with this one (follow someone - get more of their music recommended?). It would be nice to have friends alongside this if you won't be changing it back to friends. Sometimes I just want to be friends with someone and hate all their music choices. I have a couple followers on Spotify that probably wouldn't care for my music but followed me because why not. If recommending me their music is where you're going with it then please add at least an option to have friends and then followers/following. I think facebook did that and I almost didn't even notice.