Were you unable to attend Transform 2022? Check out all of the summit sessions in our on-demand library now! Watch here.
Hot on the heels of the news that Spotify is launching a shiny new Facebook Messenger bot, the music-streaming giant has now revealed that it’s expanding its student-focused Premium subscription discount to 33 new markets.
Spotify first introduced its half-price student subscription back in 2014, kicking off in the U.S. before expanding into the U.K. and Germany, but today’s news represents a significant increase in the student subscription availability. New markets include Austria, Australia, Brazil, Canada, France, Germany, Japan, Hong Kong, and Indonesia.
The 50 percent discount applies to all registered students for each year of their study. But, of course, students must first verify that they are indeed students by registering here. For the initiative, Spotify says it has teamed up with SheerID, a company that specializes in verifying consumer eligibility.
It’s worth noting here that Apple Music launched student discounts last year, kicking off with seven markets. Apple later expanded the offering to cover 32 regions, which by our calculations mean that Spotify now offers student discounts in four more markets than Apple does. For what that’s worth.
Spotify recently announced that it has 50 million paying subscribers, and it finally succumbed to long-standing industry pressure by agreeing to allow artists to limit new albums to its Premium tier for up to two weeks. Spotify still offers a free ad-supported tier, however, unlike such notable competitors as Apple Music and Google Play Music. But it’s clear that Spotify is under growing pressure to garner revenues from subscriptions rather than advertising, which is likely why we’re now seeing the company dangle a proverbial carrot in front of more students. The long-term view is that once a student enters the working world, they will continue with a full-price subscription.
The company has also been pushing to increase its stickiness through acquisitions. Last November, it bought Preact, a startup that helps companies acquire and retain subscribers. And last month it snapped up Sonalytic, which specializes in music discovery and identification, before going on to buy content recommendation startup MightyTV.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.