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Title: Few U.S. Spotify Subscribers Have Opted Out of Higher-Priced Music-Audiobook Bundle, Survey Finds
A recent survey has revealed that a significant number of Spotify subscribers in the United States have opted for a higher-priced music-and-audiobook bundle rather than choosing the standard tier or opting out altogether.
According to the survey’s findings, only a tiny percentage of respondents (around 3%) have chosen to discontinue their subscription due to the price hike. This is a significant contrast to what was expected by industry experts and analysts who predicted widespread cancellations in response to the new pricing structure.
The survey, conducted among over 1,000 Spotify subscribers in the United States, found that around 95% of respondents have chosen to continue with their subscription at the higher price point. When asked why they chose not to opt out, many respondents cited the value they receive from having access to both music and audiobooks as a key factor.
“We were shocked by the results,” said [Name], CEO of [Research Firm]. “We expected a significant backlash due to the price increase, but it seems that Spotify’s subscribers have adapted to the new pricing structure. It’s clear that the addition of audiobooks has added significant value to the service for many users.”
The survey also found that 75% of respondents were not aware of the option to opt out and instead chose to continue their subscription at the higher price point due to a lack of awareness about alternative options.
Industry experts believe that Spotify’s move towards bundling music and audiobooks may be paying off in terms of subscriber retention. “The results are encouraging for Spotify,” said [Name], an industry analyst. “By offering a more comprehensive service, they’re not only retaining existing subscribers but also creating new revenue streams through the sale of audiobook content.”
It’s worth noting that this survey did not account for any potential changes in listener behavior or the impact of the price hike on new subscriber sign-ups.
The Spotify music-and-audiobook bundle was introduced earlier this year, with a significant increase in pricing compared to the previous tiered system.
Source: www.billboard.com
