Music Streaming Services Get Higher-than-Average Conversion Rates, But Still Struggling with Profitability
By Minal Bopaiah A new article in The New York Times bemoaning the poor revenue models of streaming music services fails to acknowledge a startling fact: subscription music services are getting higher-than-average conversion rates for registered users to paid subscribers. The article makes mention that Spotify has 6 million paying subscribers of its 24 million users. That’s a 25% conversion rate! Pandora, on the other hand, has only 3 million paying subscribers out of 70 million registered users.…
