Popular music streaming service, Spotify understands the pain college students go through to save some extra cash and to express solidarity with them has announced to reduce its service prices by 50 percent to $4.99 for each month. Candice Katz of Spotify said the discounted service is available to any US university and junior college student and can be redeemed immediately.
Of course, it is not just about helping out the students. The Swedish digital music company, which launched in the US in 2011, is hoping to increase subscriber base by getting more young people involved with their service as competitors continue to emerge in the music streaming industry.
Young consumers, particularly college students, are a key demographic for the firm as they are known to be high-volume users of online content and smartphones for music. At present, Spotify has approximately 24 million active users, of which six million are paying subscribers.
The firm, which offers online on-demand access to 20 million songs in its database via smartphones, tablets and personal computers, charges a standard $9.99 monthly service fee. This service is now being offered to college students for a 50 percent reduction in prices by Spotify. The service also has a commercial-free premium service.
To make the Spotify Student service effective – and also to keep anyone who is not a student from availing this discount – Spotify has partnered with SheerID, an eligibility verification provider. All currently enrolled US college students will be verified by SheerID for a 50 percent discount on Spotify.
Meanwhile, in a related note, Spotify also said that it has stopped taking submissions from third-party developers who make applications that run on its desktop service. In a company statement, it said the Spotify’s partners have been demanding of the company to provide them with easier and cheaper ways to own a presence inside the company.
The company also said that developers have been demanding better ways to integrate Spotify with their own applications. The statement said the firm realizes the importance of mobiles and their need to adapt with the changes, therefore, any applications that only run on a desk top would not be accepted any more. However, any app that currently exists, including those from Last.fm and Rolling Stone, will continue to be available.
Spotify is facing tough competition. In January this year, Beats Music, a similar service that spun out of Beats Electronics — the Jimmy Iovine and Dr. Dre headphone seller — and also charges $10 monthly for access to music via computers and phone devices, reported that 28,000 people had subscribed to them in their first month. The rival firm also put in $60 million earlier this month in new funding for the company.
Just days ago, Apple had also been rumored to be coming up with its music streaming services and an iTunes for android to compete against Spotify.
Meanwhile, college students are delighted to learn of the new discount. Shumaila Idrees, a student of Rutgers University, NJ, said that she had been using iTunes up till now but would switch to Spotify.
“I was already thinking of shifting to Spotify because iTunes can be really expensive. I think this is the perfect time for me to finally make the switch. Five dollars every month make a lot of money at the end of the year! I think it is a really good move by Spotify to reduce prices by 50 percent for college students. I am already sold to them!”
By Faryal Najeeb
Shumaila Idrees, phone interview