Spotify has been rumored to introduce an much more costly plan than its Premium one for actually years at this level. This has generally been known as “supremium”, a plan which might introduce larger high quality streaming. We have heard about it final yr, and once more this April.
Now it has been formally confirmed by the corporate throughout its newest earnings name. Spotify CEO Daniel Ek mentioned the corporate plans on providing such a plan, which is true now nonetheless in “early days”. This is how Ek describes it:
It’s in all probability round a $17 or $18 worth level, however type of a deluxe model of Spotify that has the entire advantages that this regular Spotify model has, however much more management, rather a lot larger high quality throughout the board.
In different Spotify-related information, it hit 246 million paying subscribers within the second quarter of this yr (April to June), which is up 12% in comparison with Q2 of 2023. The corporate added 7 million paying subscribers in comparison with the year-ago quarter, which was 1 million above steerage, and that resulted in Spotify shares going up 14% in pre-market buying and selling earlier at present.
The entire variety of month-to-month lively customers is now 626 million, 14% greater than within the year-ago quarter. Ek mentioned on the earnings name that Spotify will proceed to make use of ad-supported free plans in growing markets, since “engagement looks different in these markets, as do the channels to acquire them and conversion to pay can be a bit slower”. Spotify plans to extend its advertising efforts in these locations and add extra perks to the free providing.
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