Spotify seems to be looking for ways to make its premium service more lucrative for users. I received a poll today introducing new colors for the app. So the question was, how would you feel if Spotify gave you the option to customize your account by choosing “various themes and app logo colors”?
Among the mockups presented in the study were combinations of gold and black, gold and green, regular green and black, and gold and purple. “What do you think of the overall look of the new Spotify Premium?” he asked me. The last song looked appealing to me, but seeing how Spotify India is about to remove my favorite songs in the wake of their deal with Zee Music Company, I’m not sure if I’d pay for customization. not.
According to Spotify’s first quarter earnings report, the music streaming platform has over 500 million monthly active users, up 22% year-over-year. Premium subscribers he has 210 million, only 42% of the total user base. In comparison, the premium subscriber user base was 46% in Q1 2019. The continued decline in the proportion of premium subscribers seems significant.
In the report, Spotify acknowledged lower-than-expected revenue growth due to “macro-related fluctuations in its advertising business.” The company expects an operating loss of €129 million in the second quarter of 2023, after recording a loss of €156 million in the first quarter of 2023.
Themes and app logo customizations make premium subscriptions look more valuable, especially given the company’s failure to roll out the HiFi tier it announced in February 2021 and was due to roll out later in the year. It looks like a desperate attempt to
At the time, Spotify said the HiFi tier would offer CD-quality lossless audio for users to listen to, but it’s not yet available. And we don’t know when or if the HiFi layer will roll out. In contrast, Apple Music and Amazon both offer lossless music at no extra charge.
As for customization, the survey didn’t reveal any pricing information, but wording suggests Spotify will likely include the service in its current premium subscription.
follow me twitter Or LinkedIn.