Spotify: Dead Within a Year?

According to a recent report on TimesOnline it seems that Spotify may have to cease their service within a year if they do not manage to convince users to pay for music, this is due to the fact that users seem happy with the free ad-supported service Spotify offers.

Currently there are three options available for users, these is a free service, a 24 hour day pass and a premium account, currently free accounts are invite only and is supported by pretty un-intrusive adverts.

The 24 hour day pass costs £0.99 and allows for 24 hours of music to be played without any adverts, the premium account allows for one months usage for £9.99, during this month no advertisements will be played.

I use the service daily whilst working, however I must confess I have never paid for the service, however upon hearing this news I may consider handing out a few Spotify gift cards for Christmas, check out TimesOnline for more information.

How do you think Spotify should overcome their financial issues?