Spotify has signed a partnership with the $40bn-valued Capital One Financial Corporation to offer its cardholders half-price subscription deals.
From today, any Spotify Premium customer will receive 50% of their monthly subscription cost back when they start paying with a Capital One Quicksilver or Quicksilver One card.
The half-price deal, which applies to both new and existing Spotify subscribers, also covers multi-user and discount packages such as Spotify’s Student and Family bundles.
The promotion will last until the end of April next year, covering a potential 11 months of use.
At 50% off across those 11 months, Spotify Premium customers would stand to save a total of $54.95 during the time period (on the standard $9.99-a-month tier).
It doesn’t appear that music rights-holders will lose out on the deal: according to the small print, Capital One will foot the bill by applying 50% of the amount paid for Spotify Premium each month back to the user’s credit card statement.
And that’s not the only deal on the table: new Spotify Premium subscribers who sign up with an eligible Capital One card can also get access to a three-month free trial offer.
Both offers appears to be available in the US, UK and elsewhere.
“We aim to provide our listeners with an exceptional music experience that connects them to the music and artists they love,” said Nick Mehra, Head of Direct Subscriber and Regional Partnerships for Spotify.
“With great partners like Capital One, we can create unique ways to give the millions of Capital One customers in the US the chance to curate the soundtrack to their lives with Spotify Premium.”
Lauren Liss, Digital Partnerships Lead, U.S. Card at Capital One, said: “We know our customers are passionate about the music they listen to and the rewards they earn. We like to meet our customers where they already are, and that’s why we are excited to partner with Spotify, an industry leader in the music space. This is a unique opportunity to give our customers valuable benefits.
“We are always looking for ways to reward our customers through effortless experiences, and this partnership is a great example.”
Capital One Financial Corporation, which is listed on the NYSE, turned over $25.5bn in 2016.
It is the eighth-largest commercial bank in the United States when ranked by assets and deposit.Music Business Worldwide