Spotify, following a good deal of public experimentation with price points, has decided to lower the price of its premium subscriptions in a sponsorship deal with insurance company Swiftcover.

Billboard is reporting that until 2 November, you'll be able to get a Premium subscription for £6.49 per month for 6 months. There's no minimum term, so you're free to cancel after that time if you want to. The company had also experimented with deals at £5, £8 and £9 price points.

The move is clearly in response to the launch of Napster and Sky Songs' offerings, which cost £5 and £6.50 respectively, and bundle in MP3 downloads. They don't, however, include mobile access, higher bitrates or exclusive content, unlike Spotify. The main attraction of Spotify Premium for many people, though, is the removal of ads from the content.

The reduced rate offer is only available to new subscribers, though it's not clear if you can cancel your subscription and re-sign-up at the lower rate. Many people have said that the £10 price point is too high, so does this make you want to sign up to the service? Let us know your thoughts in the comments.