With several claiming that they “saw it coming”, the first of many-to-come streaming price wars has finally started. Started by Amazon’s joining of the streaming market, major players in the industry such as Google and Spotify have responded by dropping their prices significantly.
Seems like Amazon’s entering the streaming market has triggered-off what is the first but certainly not the last streaming music price wars. As soon as Amazon released its Music Unlimited service, Google extended its own free trial period for Google Play Music service to 4 months, redefining subscription average to approximately $6.66 over the course of the first year.
And Now We Have the Music-Streaming Price Wars Too!
Spotify, too, hasn’t been far behind, reintroducing its offer to $0.99 for first 3 months of premium streaming access. Previously offered in the summer season, it resulted in a phenomenal increase in subscribers, going up to 2 million new subscribers per month. The streaming service has further introduced an additional three-month $9.99 plan for lapsed users to encourage subscribers to reapply and prevent them from jumping from one free plan to the other once their free time is up.
Apple Music, however, has so far been the singular service that has stuck to its original of offering a free 3-month trial period after which the user is charged $9.99 per month for services.
This one-of-a-kind price war started the month before, when Amazon introduced its Music Unlimited streaming service at a ground-breaking price of $7.99 for Prime members, and $3.99 for those who used an Echo device. Though the service does require the subscriber to have a $99-per-year Prime subscription (making it the most expensive as a matter of fact), it gave a public perception of being cheaper on a per-month basis.
One must note that the trial period is nothing but a tiny leeway to encourage subscribers to join streaming services, as the $9.99-per month price is locked in by agreement with major record labels. Though various people in the industry are asking for a decrease in monthly price to encourage paying subscribers, labels have refused to move away from their stance on the matter. Now it’s just left for us to see whether the present round of deals would be enough, or if this is the beginning of a series of price wars.
Join Find What You Like for FREE, to search, create and listen to your favourite music together.