New data reveals a concerning trend in the U.S. music streaming market: declining subscriber numbers, particularly for Spotify Individual subscriptions.

Recent DMN Pro data shows Spotify Individual subscribers reached 23.96 million in September 2024, marking a decrease of approximately 431,000 subscribers from February 2024, despite being up 300,000 year-over-year from September 2023.

This decline isn't isolated to Spotify. Amazon Music has also experienced a decrease in U.S. subscribers, even while maintaining its $9.99 monthly fee for Prime members.

Key findings from the latest data:

• Spotify's Individual plan subscriber count: 23.96 million (September 2024)
• Overall subscriber growth across all tiers: +2.67 million (September 2023 to September 2024)
• Current Individual plan pricing: $11.99 (up from previous $9.99)

Despite these challenges, Spotify is implementing several strategies to maintain growth:

1. Expanding advertising initiatives
2. Developing a new "Deluxe" tier (expected price: ~$18/month)
3. Planning audio quality improvements
4. Introducing AI tools
5. Focusing on Family plan monetization

The company's market performance remains strong, with stock value up 141% year-to-date at $454 per share, resulting in a market cap of $91.2 billion—nearly double that of Universal Music Group.

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