Spotify is reportedly working on a new, free version of its music service.
The company, which recently went public, is reportedly looking at new ways to attract more customers. The company is tweaking the free service to make it easier to use, especially for customers on mobile phones. The matter was reported by Bloomberg earlier today.
Up to now, Spotify’s paid version accounts for less than half of Spotify’s customer base but generates about 90% of its reported €4.09 billion revenue in 2017. With the updated service, free mobile listeners will be able to access playlists more quickly and have more control over what songs they hear on top playlists, mimicking Spotify’s ad-free subscription which costs about $10 a month. For now, the free version of Spotify’s mobile service prevents you from selecting tracks, leaving you with no choice but to listen to what it serves up via shuffle when you pick an album or playlist. In addition, you can only skip tracks up to six times during each hour of use.
With tech giants like Amazon, Apple, and Alphabet all vying for a larger share of the music subscription market, Spotify’s move could be beneficial for the company. A good point to note would be that Apple Music, Spotify’s biggest competitor doesn’t offer a free subscription at all which is why a huge share of the market still flocks to Spotify. By improving its free version, Spotify could gain a larger market share. The question to ask then would be, how it plans to make any money?
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