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An interesting article was posted in today’s UK guardian.
It suggests that a multi-faceted approach to establishing online subscriptions.
Currently, with the Spotify I-Phone app you have to pay a monthly premium subscription to gain access to what the itunes supportive page states as, ‘unlimited, unrestricted instance access to your favourite tunes’.
At yesterday’s ‘Future of Online media conference‘, Spotify’s Daniel Ek, CEO suggested that,
The key for us is getting music in to people’s existing billing habits
It is interesting how it all relates to numbers at the end of the day.
For example, Trillions of listeners with a low % conversion rate to paid subscribers will work.
In addition, establishing an easy to access ‘subscribe now’ function can also help.
The stats for Spotify are show a rapid climb, proving that people do want access to such content and its associated delivery flexibility:
Spotify User Growth
NB It doesn’t stop at just being a paid subscriber as consumers can be influenced to buy an artists/bands merchandise, concert tickets or track/album downloads.
If you have a personal website and Google Analytics installed or access to stats from your ISP, you can review the average time that a user spends on your site. Spotify users stayed logged on for an average of 72 minutes per day. With out looking at the detail it is difficult to tell if these is all in one sitting!?
The video provides a fascinating insight into what could follow – i.e: Going for mass appeal with a number of models rather than just backing one.
Another dimension to throw into the mix is the potential of technology convergence. For example, more TV’s are arriving with Internet links built-in. This offers more channels to expose and tempt potential consumers to choose from a variety of models presented, even easier if packaged as part of a TV subscription. For example, Sky offer TV, Broadband and Telephone packages. Why not add a service like Spotify for a few Dollars/Pounds more!
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