Spotify went through a dreadful start in 2018, lately. From a $1.6 billion lawsuit to Apple Music having the advantage to outweigh Spotify’s US subscriber record. So what is Spotify’s plan to get out of this pothole? Hardware Products.
Spotify announced that they’re employing an Operations Manager, Senior Project Manager, and Project Manager in Hardware Production. The company is interested in distributing their speakers and other products. This plan is made for the company to profit from something else different than it’s paid subscription service. This idea was influenced by Jimmy Iovine’s comment that was made a few months ago.
“The streaming services have a bad situation. There are no margins, and they’re not making any money. Amazon sells Prime. Apple sells telephones and iPads. Spotify, they’re going to have to figure out a way to get that audience to buy something else.” – Jimmy Iovine, Former Head of Apple Music
What do you guys think? Would you purchase a product from Spotify? Let us know in the comment section down below.