Spotify hikes prices for the second time in a year
The price of a Spotify subscription for ad-free music streaming will increase for the second time in 12 months.
Despite inflation, Spotify kept its prices the same for years. At £9.99/$9.99 a month for a single Spotify Premium subscription, listeners had a great deal but Spotify lost money each year it kept its price the same.
Now, to catch up with rising costs and (hopefully) to help remunerate artists and labels more, Spotify have upped their Premium prices for the second time in a year. Spotify raised their price for the first time last July. The monthly price of an individual Premium account rose £1/$1 to £10.99/$10.99 a month.
Individual subscriptions are set to rise at the end of April to £11.99/$11.99. Duo and Family plans will also see a big price rise to £16.99/$16.99 and £19.99/$19.99 respectively. That’s a £3/$3 increase for the Family plan and a £2/$2 increase on Duo subscriptions. Spotify Premium Student prices will remain the same at $5.99 a month.
Spotify seem to have soft-dropped the price changes so far. The prices have changed on their website however they haven’t made a public statement about them yet. Public reactions online are mixed.
It could be argued that the price hikes are a fair response to inflation after years in operation with no rise in prices. With criticism over whether artists are getting paid enough, extra revenue puts Spotify in a better position to remunerate the music industry. However, as rising costs hit consumers hard, another price rise may impact the number of users who can keep up with their payments.