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

Spotify is among the hottest music streaming apps on the planet, and its new partnership may end in a new era for the platform.

Spotify and Common Music Group (UMG) recently announced a brand new multi-year settlement, which may 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 subsequent period of streaming innovation,” which may end in new costlier subscription tiers on Spotify providing further advantages and perks for “superfans.”

“For almost twenty years, Spotify has made good on its dedication to return the music business to progress, guaranteeing 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 knowledge that fixed innovation is vital to creating paid music subscriptions much more enticing to a broader viewers of followers all over the world.”

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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 consists of growing a “Tremendous-Premium” subscription tier, permitting followers to pay further to obtain perks similar to early entry to music and deluxe editions, high-res audio, listening get together invitations, and artist Q&A classes.

“After we first offered our imaginative and prescient for the subsequent stage within the evolution of music subscription a number of months in the past — Streaming 2.0 — that is exactly the type 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 costlier subscription tier consistent with the concepts of Streaming 2.0. The deal does reportedly embody 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 doubtless be priced considerably above that.

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