Spotify Is Planning To Setup A New Version Of Its Free Music Service

It is said that Spotify is reportedly working on a new version of its free music service, according to Bloomberg. If this happens, then its the first big product update Spotify’s music service getting a change since it went public some time ago. Here are the details.

For customers with mobile phones, Spotify is also said to be tweaking the free service of music make it easier to use. The official announcement for that is expected within a couple of weeks from now. The music streaming company aims to steer its free customers base into its paid offerings since the paid version only accounts for less than half of Spotify’s customer scenario. But the same generated 90% of its 4.09 billion euros in 2017 revenue.

If not, the aforementioned segment should work for Spotify since Stockholm-based Spotify has about 157 million users base at the end of last year, of which around 71 million is paid, subscribers.

With the updated free music service, mobile listeners will be able to access playlists more consistently and quickly, have more control over the songs they hear on top playlists, which also resembles the Spotify’s ad-free subscription product.

Finally, Spotify is planning to reach about 200 million users milestone by the end of 2018 and 96 million paid subscribers.

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