Undoubtedly, one of the forms of entertainment that has not stopped growing in recent years is that of streaming music on digital platforms, Spotify, Apple Music, Tidal, SoundCloud , they are a clear example that the user now prefers to control what listens. The data is cold, in Hong Kong Mobile Number Database 2014 there were about 166 million subscribers in the world in this type of services (free and paid), but it is estimated that by 2020 it will reach 335 million users globally, according to data by Statista. A brand that seeks to gain a presence in the user’s preference is the Swedish SoundCloud, which announced a ‘ low cost’ subscription service for $ 5 per month, launching a cheaper offer at the market average of $ 10.
This new format of its service is an alternative to the one it already offers since last year that also has a cost of 10 dollars, which it launched in order to expand its cloud storage service, well known among producers and musicians. It should be noted that streaming music services grew largely due to free versions, which are paid for through advertising, but brands began offering Premium services in order to offer users a more enjoyable experience. The above would mean that they would not be successful, however, the fact that Spotify Phone Number List and Apple Music continue to grow in user base shows that the model is profitable and convinces users. The Swedish platform, for example, last year had revenues of more than 2.2 billion dollars, (the majority from payments of more than 30 million subscribers), according to data from Statista.
This is what SoundCloud is betting on with a ‘ low cost ‘ service, the advantage is that it frees advertising and allows listening to music even without an internet connection, but the disadvantage is that it leaves the user without access to millions of tracks that will only be available on their $ 10 service. This service option is similar to that offered by Pandora and Amazon, which have low-cost options but also limit certain content.