The music streaming giant Spotify has shared some fascinating statistics on its gift cards. According to an article by IndiInquirer, the company's gift cards have generated a significant revenue in recent years.
One of the most notable statistics shared by Spotify is that its gift cards are worth over $10 billion annually. This staggering figure is likely due to the fact that many customers use their gift cards to purchase music subscriptions, which can be redeemed on platforms like Apple Music and Amazon Music.
Another interesting statistic revealed by Spotify is that 70% of its gift card recipients opt for a $50 value, while 20% choose a $100 value. This suggests that customers are willing to spend money on gift cards, particularly those who have already purchased music subscriptions or merchandise related to their favorite artists.
As you can see from these statistics, Spotify's gift cards are more than just a convenient way to buy music. They represent a significant revenue stream for the company and a testament to the enduring popularity of its platform.
Reference: IndiInquirer: Statistics Shared On Spotify Gift Cards