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Universal Music Group in ‘Advanced Talks’ With Spotify for Superfan Tier
Universal Music CFO Boyd Muir said UMG was in advanced talks with Spotify over a superfan tier during the company's Capital Markets Day presentation.
Universal Music Group and Spotify are in “advanced talks” over a high-priced, superfan tier of the streaming service that offers a better user experience than the standard subscription plan. The status of the negotiations were revealed by UMG CFO Boyd Muir on Tuesday during the company’s Capital Markets Day presentation in London. Super VIP costs five times the standard subscription plan, and Muir said a “double-digit percentage” of Tencent Music’s subscribers have signed up for it.
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