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 dearer subscription tiers on Spotify providing additional advantages and perks for “superfans.”

“For practically twenty years, Spotify has made good on its dedication to return the music trade to development, guaranteeing that we ship document payouts to the good thing about artists and songwriters every new 12 months.” stated 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 essential to creating paid music subscriptions much more engaging 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 basically a brand new monetization technique aimed toward devoted music listeners. The thought contains growing a “Tremendous-Premium” subscription tier, permitting followers to pay additional to obtain perks reminiscent of early entry to music and deluxe editions, high-res audio, listening social gathering invitations, and artist Q&A periods.

“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 form 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 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 would seemingly be priced considerably above that.

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