Spotify to Launch New Expensive Subscription Plan, 'Supremium', Amid Competition with Apple and Amazon
Portfolio Pulse from Anusuya Lahiri
Spotify plans to launch a more expensive subscription tier called 'Supremium' with high-fidelity audio to increase revenue and appease investors. The new tier will be introduced in non-U.S. markets first, while expanded access to audiobooks will be offered to U.S. subscribers in October.
June 20, 2023 | 12:35 pm
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Spotify's 'Supremium' subscription tier may increase competition for Apple Music, potentially affecting Apple's market share in the music streaming industry.
As Spotify introduces the 'Supremium' subscription tier, it may attract customers who are looking for high-fidelity audio, which is currently offered for free under Apple Music's standard plan. This could lead to increased competition and potentially affect Apple's market share in the music streaming industry.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Spotify's 'Supremium' subscription tier may increase competition for Amazon Music, potentially affecting Amazon's market share in the music streaming industry.
Spotify's 'Supremium' subscription tier may attract customers who are looking for high-fidelity audio, which is currently offered for free under Amazon Music's standard plan. This could lead to increased competition and potentially affect Amazon's market share in the music streaming industry.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Spotify's new 'Supremium' subscription tier aims to boost revenue and investor satisfaction, potentially benefiting the company's stock.
The launch of the 'Supremium' subscription tier is a strategic move by Spotify to increase revenue and compete with Apple and Amazon. This could lead to higher subscription numbers and revenue, which may positively impact the company's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100