Bad news for music streaming lovers: Spotify, the Swedish music streaming giant, has announced a significant price increase for its Premium subscriptions in the United States. Starting from July 2024, users will have to deal with price increases that can reach 30%.
In an email sent to subscribers, Spotify justifies this move by stating that the increases will allow the company to “invest and innovate in the Spotify product and offer the best experience and new features”. However, for many users, these increases may be difficult to stomach.
The only plan that will remain unchanged is the student subscription, which will continue to be offered at the price of $5.99 per month. For all the others, however, significant increases are expected. Individual subscription will go from 10.99 to $11.99 per monthwhile the Family Plan will undergo an increase of 25%, going from 16.99 to $19.99 per month
. But it is the Duo plan that records the most marked increase: from 14.99 to $16.99 per monthwith an increase of 30%.
At the moment, these increases have only been communicated for the US market. However, in recent months, Spotify had already announced a series of price increases in several countries, although Italy had been spared. It cannot therefore be ruled out that this new wave of increases could also extend to other countries, including ours.
It remains to be seen how users will react to this news and whether Spotify will be able to maintain its leading position in the music streaming market despite the higher prices. In a context where consumers have multiple alternatives available, the challenge for Spotify will be to demonstrate that the added value offered by the platform justifies the higher cost of subscriptions.
