For now, Spotify’s new prices (with increases of up to 18%) only affect the USA, but we wouldn’t be surprised if they soon hit Italy too
It was last July when Spotify increased the prices of its Premium subscriptions in various countries (including Italy) and, exactly one year later, the popular audio streaming service is preparing to do the same thing, even if for now the increase only concerns the USA.
With the classic and now overused motivation of “invest and innovate in the features of our products and offer users the best experience”starting next month Spotify will once again increase prices on three of its four subscription plans (only that for students will remain unchanged), with a maximum increase of almost 18%.
These are the new tariffs in the USA from July 2024:
- Individual Plan: from 10.99 to 11.99 dollars per month (+9.1%)
- Duo Plan: from 14.99 to 16.99 dollars per month (+13.3%)
- Family Plan: from 16.99 to 19.99 dollars per month (+17.7%)
- Student Plan: $5.99 per month (no increments)
The new prices thus make Spotify more expensive than Apple Music, Tidal and Amazon Music Unlimitedwhich however also offer a streaming catalog with lossless and hi-res quality and various contents with spatial audio.
Spotify on the other hand, awaiting the option for lossless audio which has been talked about for years now (and which could lead to a further increase in prices), still offers compressed streaming and these increases are therefore more annoying, even if for the moment they only affect the United States (but we wouldn’t be surprised if they were to affect other markets soon).
At the end of the first quarter of 2024, Spotify had 239 million paid customers worldwide, up 3 million year-over-year. Overall, the platform has 615 million listeners (free and paid) worldwide, but continues to struggle financially, with a net profit of -532 million dollars in 2023 against a turnover of 13.2 billion dollars, a sign that the company’s all-too-ambitious expansion campaign during the pandemic continues to be felt.
Currently, prices in Italy remain unchanged, i.e 10.99 euros per month for the Individual plan (music without ads, offline listening)14.99 euros for the one and 17.99 euros per month for the Family one, which offers up to six Premium accounts.
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