Spotify is set to launch a new free music streaming service within weeks that will be more like its premium tier.
Spotify is in the midst of massive change. It’s now traded on the stock market, which means it is now a company that needs to show it’s worth the cash invested in it. One way to do that is by getting more people on to the platform and Spotify is hoping to do this by enticing users with a revamped version of its free app.
According to a new report from Bloomberg, “people familiar with the matter” said that the upgrade will give users more control over tracks and quick access to playlists on mobile devices.
The inability to choose specific tracks is the main drawback when it comes to Spotify’s free mobile service, but the company knows that it’s this very limitation that prompts some users to switch to its paid model costing $10 USD a month.
The report says: “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 product. The basic package is $9.99 a month.”
As Bloomberg points out, the Swedish streaming service needs to attract new listeners to reassure investors that the business is continuing to grow, and making the free mobile version more attractive could be one way to go about this.
The streaming giant has 70 million subscribers – almost double that of Apple Music – and, as of December 2017, 157 million active users. It hopes to boost those numbers, to 96 million and 200 million, respectively, by the end of the year.