Spotify could also be planning to hike costs on its most loyal listeners

Spotify is likely one of the hottest music streaming apps on the planet, and its new partnership might end in a new era for the platform.

Spotify and Common Music Group (UMG) recently announced a brand new multi-year settlement, which might make Common’s Streaming 2.0 imaginative and prescient a actuality. Whereas the press launch did not get into too many specifics, it does say the settlement is supposed to “advance the following period of streaming innovation,” which might end in new dearer subscription tiers on Spotify providing further advantages and perks for “superfans.”

“For practically twenty years, Spotify has made good on its dedication to return the music trade to development, making certain that we ship report payouts to the good thing about artists and songwriters every new yr.” stated Spotify’s Founder and CEO, Daniel Ek, in a press release. “This partnership ensures we will proceed to ship on this promise by embracing the knowledge that fixed innovation is essential to creating paid music subscriptions much more enticing to a broader viewers of followers around the globe.”

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What’s Streaming 2.0?

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Common Music Group

Final yr, Common Music Group presented its investors with the concept of “Streaming 2.0,” which is basically a brand new monetization technique aimed toward devoted music listeners. The thought consists of creating a “Tremendous-Premium” subscription tier, permitting followers to pay further to obtain perks comparable to early entry to music and deluxe editions, high-res audio, listening occasion invitations, and artist Q&A periods.

“After we first introduced our imaginative and prescient for the following stage within the evolution of music subscription a number of months in the past — Streaming 2.0 — that is exactly the type of partnership growth we envisioned.” stated UMG’s CEO Sir Lucian Grainge in a press release.

The precise phrases and size of the deal weren’t introduced, and it is unclear when or if Spotify will implement a dearer subscription tier according to the concepts of Streaming 2.0. The deal does reportedly embrace elevated royalty charges for songwriters. Final June, Spotify increased the price of its Premium subscription to $12 a month, so if it introduces a brand new “Tremendous-Premium” tier, it’ll possible be priced considerably above that.

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