Spotify’s Merch to Make More Money from Streaming
Spotify just launched an in-app Merch hub. It offers personalized merch recommendations according to your listening habits.
In the past, you could buy artist merch from a person’s profile. With the latest update, the company placed a dedicated place for it.
“ Instead of having to browse artist by artist, this update makes it easier than ever to access all artist merch in one place. From the hub, you can browse, click on available items to learn more, and then purchase through the artist’s Spotify store, powered by Shopify.” — Spotify
The platform wants to connect listeners to support artists to fulfill its mission. That is to “enable artists to live off their art.” After users saw Spotify Wrapped results, Spotify experienced an increase in merch sales last year. This year, Spotify Wrapped will be released in November.
This announcement comes as some people spotted Spotify gearing up for the launch of its Superpremium tier. It would come with lossless audio, advanced mixing tools, and Your Sound Capsule, which is a personalized offering. The tier lets users filter their content library by genre, activity, or mood.
It can be a valuable source of income and support for streamers, especially for those with a dedicated and engaged fan base. Selling merchandise provides an additional stream of income for streamers. It can help supplement their earnings from ads, donations, and subscriptions on the platform.
Merchandise also allows streamers to create and promote their brand. Custom merch can include their logo, catchphrases, or unique designs that are associated with their channel. This helps in building a recognizable and distinct brand identity.
Offering merch to fans provides a way to engage with and reward your community. Fans who purchase merchandise feel a stronger connection to the streamer and are likely to become more loyal viewers.
Merchandise can serve as a form of advertising. When fans wear or display streamer merchandise, they are essentially promoting the streamer’s brand to a wider audience, potentially attracting new viewers.
Some streamers give away merchandise as prizes for contests, and giveaways, for subscribers, which can increase their visibility and encourage more people to subscribe or follow their channel.
However, it is vital to approach merch sales strategically. Ensure that your merch is of good quality. Happy fans are more likely to promote your brand through word of mouth and by wearing your merchandise. Invest in attractive and meaningful designs that resonate with your audience. A poorly designed or uninspiring product might not sell well.
You should also choose a reliable and efficient method for fulfilling orders. Late deliveries or mistakes can lead to unhappy customers.
Set reasonable prices for your merch. It should be affordable for your audience while also providing a profit for you.
Be aware of copyright and trademark issues when creating merchandise. It is essential to respect the intellectual property of others. The success of merchandise sales often depends on the size and engagement level of your audience.