Latest data reveals a concerning trend in U.S. music streaming subscriptions, with Spotify Individual subscribers showing notable declines despite overall growth in other areas.

According to DMN Pro's latest analysis, Spotify Individual subscribers in the U.S. reached 23.96 million in September 2024, marking a decrease of approximately 431,000 subscribers from February 2024, despite showing a modest increase of 300,000 from September 2023.

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

Key findings from the analysis:

• Spotify's current Individual subscription price: $11.99 (up from previous $9.99)
• Apple Music's competitive price: $10.99
• Total U.S. subscriber growth across all tiers: 2.67 million (Sept 2023 to Sept 2024)

Despite these challenges, Spotify continues to show strong market performance:

• Stock value up 141% year-over-year ($454 per share)
• Market cap reaching $91.2 billion
• Successful diversification beyond music streaming
• Increased focus on profitability

Future growth strategies include:

• Potential Family plan price adjustments
• Enhanced advertising initiatives
• Upcoming "Deluxe" tier launch (estimated $18/month)
• AI tools integration
• Audio quality improvements

While the subscriber decline presents concerns, Spotify's diverse revenue streams and global growth in other markets suggest the company remains well-positioned for long-term success, particularly as it continues to innovate and expand its service offerings.

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