SPOTIFY may soon increase its subscription fees for music lovers in the United States.
Founded in 2006, Spotify is a Swedish audio streaming and media service provider.
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For decades, the company has been one of the biggest music streaming platforms with 574 million monthly active users.
One likely reason for such great customer retention is that the service hasn’t increased its subscription fees much.
For years, the ad-free Premium tier has only cost users $10 a month, or $120 a year.
On top of this, there is an ad-supported free tier, which offers unlimited access to the full catalog of music and podcasts.
However, the company announced last year that Premium would cost $10.99 a month.
Now, Bloomberg reports that Spotify Premium’s subscription price could increase again.
The cost will reportedly go up by between $1 / £0.79 and $2 / £1.58 in the UK, Australia, and Pakistan by the end of the month.
Specifically, individual plans will increase by about $1 / £0.79 a month, while family and duo plans will rise by $2 / £1/58.
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There is also supposedly a plan to increase fees for US customers “later this year.”
According to The Verge, part of this fee increase is due to the growing popularity of audiobooks on the platform.
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The fees would cover the creation of more audiobooks for the platform.
However, Spotify is expected to introduce a “basic” Premium tier for those not interested in listening to audiobooks.
This tier would stay priced at $10.99 and bundle unlimited music and podcasts.
CURRENT TIERS
Spotify currently offers premium plans for $10.99 for an individual.
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Duo plans, which offer a discounted rate for two people on a plan, set listeners back $14.99.
Meanwhile, family plans cost listeners $16.99 in the US, per the company’s website.
Because the family plan allows up to six members to have Premium accounts, many subscribers opt for this plan.
USER REACTIONS
News of the potential price hike quickly made a splash on social media platforms with listeners.
“Oh, I may have to cancel then unless we get good benefits,” one person noted on X, formerly Twitter.
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“I speak for everybody when I say we moving to Apple Music,” another person remarked.
“This is ridiculous. @AppleMusic oh pls pls uppercut them by allowing cross-platform playlists and making prices cheaper,” a third commented.
