With seemingly every music streaming service jacking up their prices, it seemed more and more like Spotify was our last hope in terms of affordability. It may not stay that way for long, as Spotify is also considering a price increase.
Spotify CEO Daniel Ek confirmed that Spotify was considering raising the price of its subscriptions in the US, mentioning that a price increase is “one of the things we’d like to do and it’s something we’ll consider with our partners.” record labels”. We still don’t know what this potential price hike would look like: in the US, Spotify currently costs $10 per month for the individual plan, with the Duo plan (for two accounts) costing $13 per month, and the family plan (for two accounts). for up to six people) at a cost of $16 per month.
As to what is causing this price increase, it is not immediately clear. Spotify reported growth over the past year and exceeded subscriber expectations over the past quarter. The CEO mentioned that the increase would be a response to other services raising their prices, with YouTube raising its Premium Family subscription up to $23 per month and Apple Music going up to $11 per month for the individual plan.
We may learn more about potential new pricing for Spotify as early as 2023.
Source: Deadline, Android Headlines