There’s a danger of reading too much into brief comments made at a technology conference, but something Spotify’s chief premium business officer Alex Norström said at Fortune’s Brainstorm Tech event yesterday is noteworthy. He was appearing alongside artist Fletcher at the conference.
“For an artist like Fletcher there’s huge potential in looking at things that are beyond just ad sales and subscriptions, which is our business model of today,” he said. “You can add stuff on top like micro-payments, a la carte, prepaid plans for different contexts… The revenue infrastructure will then create lots of opportunity for you to innovate with the art.”
Later on, Norström returned to the idea by saying “if you can build revenue infrastructure like we have, around two modalities and possibly more, then I think out of that will follow innovation.”
Sadly he wasn’t pressed to talk more about the micro-payments ideas, although back in January 2018, then-CMO Seth Farbman enthused publicly about the Asian model of micro-payments: “This sense that when you receive something of value, you can immediately recognise the value of that content or artist by giving them a little tip or something… I think that’s done in Asia much better than it is in the rest of the world, so that’s something we’re watching carefully”.
Music Ally’s next Learn Live webinar will help you understand what’s required for artists to thrive in new international markets!