Which pricing strategy introduced by Spotify in 2014 is credited with significantly reducing churn rates and increasing lifetime customer value in the music streaming industry?

In today's competitive music streaming landscape, companies employ sophisticated pricing strategies to maximize revenue while retaining subscribers. This trivia question explores one of the most successful pricing innovations that transformed the industry in recent years. Test your knowledge about how streaming services have evolved their monetization approaches beyond the simple monthly subscription model.

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Family Plans offering multiple premium accounts at a discounted bundle price
Freemium tier with advertisements and limited functionality
Student discounts on premium subscriptions
Dynamic pricing based on listening habits and regional factors