The New York Post broke the story, claiming that Spotify has signed up 3m US users since launch, converting around 600k of them into paying subscribers. “Insiders close to the music labels say the revolution has not been all that was promised, with fewer people paying for subscriptions than expected,” claims the newspaper, quoting an anonymous ‘music industry inside’ as saying “People aren’t 100% happy. Spotify over promised, but doesn’t everybody?” The strange thing here: 600k is 20% of 3m – a conversion rate that has been praised elsewhere in the world. What’s more, labels have agreed to extend the unlimited free period for Spotify in the US, which smacks more of approval than disappointment with its performance so far. That’s the gist of Spotify’s response statement too: “This story is not accurate. Spotify’s growth and popularity in the US market has surpassed our expectations and we are confident that trend will continue. The ratio of paying subscribers to active free users is over 20% and that is in line with our global conversion rates.”
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Tools: Kaiber
In the year or so since its launch, AI startup Kaiber has been making waves,…