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Recent reports from the Wall Street Journal point out that US users will see a Spotify Premium price hike. Currently, premium subscribers pay a monthly fee of $9.99, but that is set to see a change in this price in the coming days. The increment to premium subscription pricing is one that the company’s CEO has been hinting at over the past few months.
Spotify sees this price increment as being okay since it’d help boost profit for the company. However, users of the streaming platform’s services might not see things from Spotify’s point of view. Once this price increment hits, there might be some compliance on the part of users in the US.
For now, the reports point out that this price hike will affect US users sometime next week. But Spotify isn’t the first streaming service to hike its prices in recent times. Also, this isn’t the first time that Spotify will be increasing the prices of its subscription prices across various plans.
The US will soon see a Spotify Premium price hike, here is what you need to know
Back in 2021, Spotify increased the prices of plans in certain markets by up to $2. From then till now, users of Spotify in these markets have been able to adapt to that price change. Now, two years after the last price increment, Spotify is a few days away from increasing the price for their plans again.
This time around, the coming price increase is said to be up to $1 on certain plans. At the moment, Spotify’s Basic plan costs $9.99, but the coming increase might cost $10.99. This is a slight increase, but a good amount of users will complain about this increase.
So, if users will get irritated by the price increase, why would Spotify still affect it by next week? At the moment, Spotify hasn’t made any comment about the coming price increase. However, over the past few months the streaming platform has been informing users of this coming change, so prepare themselves.
Other streaming platforms like Apple Music, Amazon Music, Tidal, and even YouTube Music have kicked up their prices. These are the biggest competitors in the music streaming industry and they have all made some adjustments to their subscription prices. For some reason, Spotify is the last on this list to increase prices for its plans.
By next week, users in the US will get to know the new price they’d pay for monthly subscriptions. This change might go into effect with subscriptions for the coming month. Users will get to know the new price they’d pay to continue streaming without ads by next week.
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