Spotify is raising Premium subscription prices again

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In a move that has left music enthusiasts worldwide in a state of disbelief, Spotify, the renowned music streaming giant, has announced another increase in its subscription prices. This marks the second time in a year that the company has decided to hike its rates, a trend that is becoming all too familiar for its user base.

 

The new pricing strategy, set to take effect in July 2024, will see an increase of $1 for individual and duo users, while family plan members will face a steeper rise of $3. This decision follows a similar pattern to the one Spotify adopted in July 2023, when it also raised its prices across different subscription tiers.

 

The music streaming service has justified these changes as necessary adjustments to continue investing in and innovating its product features. However, this explanation has done little to quell the growing discontent among its 293 million paying subscribers.

 

The price hike is not limited to the U.S. market. In the UK, for instance, subscriptions will rise by £1 a month to £10.99 for an individual plan, £14.99 for a premium duo plan, and £17.99 for a family plan. The student plan remains unchanged at £5.99.

 

As the music streaming landscape continues to evolve, Spotify’s latest move raises several questions about the future of the industry. Will other players follow suit and raise their prices as well? And more importantly, with competitor Apple Music now costing less, how will Spotify’s loyal user base react to this change?

 

 

 

Read more:

• https://newsroom.spotify.com/2024-06-03/adjusting-spotify-premium-prices-in-the-us/
• https://qz.com/spotify-raises-prices-us-premium-subscription-1851515603
• https://hypebeast.com/2024/6/spotify-premium-subscription-price-hike-2024

 

 

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