Spotify Is Raising Prices Yet Again

Spotify offers an advertising-supported free service with restricted features along with a subscription-based paid service that offers access to all its features, with premium subscribers accounting for most of its revenue. The music platform keeps on increasing the prices of its plans at times when the company is anticipating strong growth in subscribers.

According to the latest reports, Spotify is once again increasing the price of its Premium subscription in the United States. While the ad-supported free tier remains unchanged, Spotify’s Premium tier now costs more than Apple Music. Subscribers to Spotify Premium Individual will now pay $11.99 per month, compared to Apple Music’s $10.99 per month. Additionally, the Family plan price has also risen to $19.99, up from Apple Music Family’s $16.99.

Spotify Raising Prices Again!

Other than the Family Plan, Spotify Premium Duo, designed for two people in the same household, now matches Apple Music Family’s price of $16.99, which supports up to six family members. For context, Apple Music last raised its prices in October 2022. While there’s no official announcement yet, Apple may follow suit with price adjustments in the coming months.

Spotify has explained the reason for the price hike in an email. According to the music streaming platform, the price increase is vital to “continue to invest in and innovate on our product offerings and features.” Spotify has expanded into podcasts and audiobooks but still lacks long-requested music features like lossless audio or Spatial Audio. On the other hand, Apple Music includes these features at no extra cost. Spotify is anticipated to charge additional fees when these features eventually roll out. Now, the question arises whether this strategy of price hike benefits the company, or urges people to shift to Apple Music. What do you think? Do share with us in the comment section!

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Laiba Mohsin

Laiba is an Electrical Engineer seeking a placement to gain hands-on experience in relevant areas of telecommunications. She likes to write about tech and gadgets. She loves shopping, traveling and exploring things.

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