Additionally, according to an article from Digital Music News, every lyric request from Spotify now appears with an advertising banner before displaying the real-time lyrics. For the Spotify ad-supported (free) account users, having the lyrics be free not only saves money but also allows more fans to experience the true emotions and feelings that come out from the tracks that they enjoy listening to. Additionally, the reversion also benefit music streaming giant since showing the ads still bring in revenue for them. The reversion comes a month after Spotify hiked premium subscription plans for the second time in a year when it increased from $10.99 to $11.99 per month.

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Spotify saw listenership of its top 200 songs drop over 20% in Italy between March 3 and March 17. As less time is spent commuting, going to the gym, and other outside-the-house activities, music listening numbers have declined. However, 90% of Spotify’s revenue does come from subscriptions. This means that listening times won’t affect profit margins, as long as listeners are still subscribed.

Patterson also stated that Spotify music streaming rates in the United States have also dropped by double digits. Additionally, as people stay at home more, smart speakers such as Amazon’s Alexa are being relied upon more and some Spotify users may switch over to Amazon Music as a result.

A financial report for 2020 Q1 for Spotify will be delivered on April 29th, and there will be more information there, as well as answers to some stock investors’ questions and concerns.

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