Spotify have finally increased their Premium subscription pricing after 12 years. It’s been a long time coming with rival platforms often putting their prices up. Spotify held back for so long, until now.
Spotify have announced their Premium subscription is set to rise by 10%, taking it from $9.99 per month in the US to $10.99. It isn’t just increasing its prices for the US either, 52 other markets will see a price hike. Spotify are increasing other subscription plans too.
Their family plan will rise by $1 in the US. They previously increased their family plan’s pricing. In 2021, the family subscription saw price changes, now it will see them again. However, the normal Premium subscription plan hasn’t changed until now.
Despite competitors adding additional fees, Spotify has resisted before now. A few markets which will see an increase are; UK, Canada, Brazil, Spain, France, Australia, Indonesia, Israel, Sweden, and Mexico. It hasn’t yet been said if artists will see any more money from these changes.
The increased prices look like this:
Premium – $9.99 $10.99
Duo (for couples) – $12.99 $14.99
Family – $15.99 $16.99
Student – $4.99 $5.99
Spotify’s pricing is the same as Apple Music
In October 2022, Apple Music put their prices up. Their personal plan went from $9.99 to $10.99 and their family subscription jumped from $14.99 to $16.99 which is a bigger jump than Spotify, however the pricing is now equal. It’s fair competition for both parties.
We all know that streaming stores compete against each other, but now, Spotify is no longer under-cutting its rivals. Could this lead to their users trying out their competition, or, are Spotify’s users loyal to the platform?
It does seem too much effort to try and move all data from one music platform to another. With the music platforms being the same price now, it wouldn’t make sense for users to jump ship, unless other platforms can offer incentives, which seems unlikely.