Swedish audio streaming platform
Spotify
is again increasing the prices of its subscription in the US. This time, the increase applies to all their premium tiers, making Spotify potentially less attractive, especially for families.
Here's the breakdown:
* Individual plans: Up $1 to $11.99 per month.
* Student plans: Also up $1 to $5.99 per month.
* Family plans: The biggest jump, rising $3 to a hefty $19.99 per month.
This latest
price increase
puts Spotify's
Family plan
at a disadvantage compared to its main competitor,
Apple
Music.
Apple Music
's Family plan remains at $16.99, offering the same six-account limit for a lower price.
Reason behind the price hike
Spotify cites the need to "continue to invest in and innovate on our product offerings and features" as the reason behind the price increase. They've been expanding into podcasts and audiobooks, which could be part of the investment justification.
However, with Apple Music offering a similar feature set at a lower price point for families, some users might find themselves re-evaluating their streaming service options.
Despite never having turned a profit since its public launch in 2018, Spotify has found success with its recent price increases. Last year, the company experienced its best year of user growth ever, with 113 million new sign-ups for its free and paid services, despite concerns that higher prices might lead to cancellations.
English (US) ·