Spotify sweetens student deal with free TV, SVOD offering
How does this sound for a deal: a subscription to market-leading music streaming service Spotify, a subscription to Streaming Video On Demand (SVOD) service Hulu, and a subscription to popular network Showtime – all for just $5 per month! That’s the deal Spotify’s offering students, and it’s pushing its popularity to new heights!
Spotify’s share price has risen by 27% year to date
SOURCE: Yahoo Finance
This is a great offer that sees students receive $29 worth of access every month for a sixth of the price. It’s also a great way for three big players in industries with big competitors to piggyback off one another’s success in adjacent industries. It may even be a first move into the future of streaming services: bundle deals?
According to Spotify’s chief premium business officer, Alex Nordström, “millions of users” signed up to the deal since last September (when Spotify originally paired with Hulu) – the addition of Showtime is expected to drive even more interest. He said that the company is “always trying to find creative solutions to add value back to our premium customers, especially via partnerships, and our focus is on the long-term relationship with each subscriber.”
For Showtime, the appeal is equally obvious. Only half of millennials and Generation-Xers bother watching TV. Showtime is a content powerhouse, but it needs to get that content in front of young eyes. The company’s cehif operating officer, Tom Christie, said:
“We had to figure out ways to get into a place where kids could stream us easily. There’s no other brand out there today that’s been more successful in setting up streaming business on campus than Spotify.”
Dominion holds Spotify in its Global Trends Managed Fund.
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