Spotify and Walmart + TeamUp to Offer Free Music Streaming for Six Months
Spotify has teamed up with Walmart to offer six months of free music streaming to Walmart+ members. # Spotify and Walmart + TeamUp to Offer Free Music Streaming for Six Months
Walmart+ is the national retailer’s response to Amazon Prime, which offers subscribers free two-day shipping and a slew of other perks. Walmart is probably hoping that the added benefit of a music subscription service will entice people to sign up, especially since Amazon Prime already includes music streaming.
Beginning March 8, new and existing Walmart+ subscribers will receive a free six-month subscription to Spotify Premium.
New and existing Walmart+ members can take advantage of the limited-time offer, but only if they haven’t tried Spotify Premium before. Spotify wants to boost its subscription numbers in 2022, but how many of those six-month free trial members will stick around?
“Our Walmart+ members have told us they love music and entertainment, so our partnership with Spotify is just another way we’re adding value to our Walmart+ members,” says Chris Cracchiolo, SVP and GM of Walmart+. That’s a lot of words to say Walmart needed a music streaming partner to compete with Amazon’s grocery subscription service.
During last week’s trading, Spotify’s stock hit a new 52-week low. The SPOT stock fell as low as $135.53 on Monday, and it has continued to fall this week. SPOT has lost 46.14 percent of its value in the first three months of 2022, a far cry from its initial offering price of $169 per share when it debuted in 2018.
To help expand its reach, Spotify has long sought out hardware partnerships and tie-ins with other companies. Spotify announced an expanded partnership with Samsung in 2019 to provide new phone owners with a free six-month trial of the service. On all Samsung devices, Spotify is also pre-installed as the default music streaming service. Spotify, like Walmart+, only wanted new accounts – existing Spotify subscribers were not eligible.