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 lead to 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 lead to new dearer subscription tiers on Spotify providing further advantages and perks for “superfans.”

“For almost 20 years, Spotify has made good on its dedication to return the music trade to progress, making certain that we ship report payouts to the advantage of artists and songwriters every new 12 months.” mentioned Spotify’s Founder and CEO, Daniel Ek, in a press release. “This partnership ensures we are able to proceed to ship on this promise by embracing the understanding that fixed innovation is essential to creating paid music subscriptions much more engaging to a broader viewers of followers world wide.”

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What’s Streaming 2.0?

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Common Music Group

Final 12 months, Common Music Group presented its investors with the thought of “Streaming 2.0,” which is actually a brand new monetization technique aimed toward devoted music listeners. The thought contains growing a “Tremendous-Premium” subscription tier, permitting followers to pay further to obtain perks akin to early entry to music and deluxe editions, high-res audio, listening celebration 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 sort of partnership improvement we envisioned.” mentioned 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 consistent with 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 should possible be priced considerably above that.

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