It looks like Spotify might add more price tags to their product and service offerings for their Artists, according to their most recent earnings call last week.
For the first time, Founder and CEO Daniel Ek hinted on an evolving strategy of monetizing off of their product offerings they once touted as empowering their creators and listeners.
He emphasized Spotify as a “freemium business” model, explaining that some product features are free while some are expected to come with an additional charge to artists and labels. Nothing in particular was mentioned, but Spotify for Artists was repeatedly brought up and changes are definitely in the works.
Another question called upon finding and monetizing “real fans” through e-commerce opportunities in ticket sales and merchandising. The Founder and CEO truthfully called upon their advanced data capabilities, expressing a promising future of e-commerce with the following statement:
“We have a better ability - we believe - over time to discern who are real fans versus not. As part of that, you could expect us to enable opportunities as part of our marketplace strategy to create more opportunities for creators to upsell those superfans various products.”
We’ve seen the power of data in leveraging success; Spotify seems like it has everything in its hands to use their data and make e-commerce and merchandise an option through their platform.