As expected, Spotify upped the price of it’s Premium tier for Single, Duo and Student plans this week, while the Family plan stays the same.
The company reasoned as to why this changed was for fuelling it’s innovation, while the FAQ page notes the changing market conditions as a reason. Whatever the reason, the new price hike will put Spotify on par with other music streaming platforms in the industry amid tough competition.
Spotify Premium Price Hike
Spotify has long been hinting about a price hike of it’s high-end tier, considering it’s loyal user base. Talking at the company’s Q1 earnings call, Spotify CEO Daniel Ek said, “When the timing’s right, we will raise [rates] and I think that price increase will go down well because we’re delivering a lot of value to our customers”.
And as speculated, the platform increased the price of it’s Premium tier as follows, this week:
- Spotify Premium Single: $11 a month, an increase of $1
- Spotify Premium Duo: $15 a month, an increase of $2
- Spotify Premium Student: $6 a month, an increase of $1
- Spotify Premium Family: $16 a month remains the same.
This is the first price increase Spotify did to keep up with the competition and level up with rivals like Apple Music and Amazon Music. Apple has recently increased the price of it’s Music app, making it’s Apple One subscription more worthwhile than paying for Apple Music alone.
Spotify says the increased pricing change takes effect a month after the account holders receive an email about the change.
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