Spotify raising prices by up to $3 as frustrated subs beg it to “just do music”
What were the new monthly rates for Spotify's individual, family, and duo plans announced for July 2024?
In July 2024, Spotify announced new monthly rates for its Individual, Family, and Duo plans. The Individual plan increased from $11 per month to $12 per month. The Family plan, which supports up to six members, went from $17 per month to $20 per month. The Duo plan, for two accounts, rose from $15 per month to $17 per month. The Student and free plans did not have any announced pricing changes.
How long did Spotify maintain its original subscription pricing before implementing the first price increase in July 2023?
Spotify maintained its original subscription pricing for 12 years before implementing the first price increase in July 2023. The company kept the prices the same since debuting the Premium subscription in 2011.
What reasons did Spotify provide for the increase in subscription prices?
Spotify provided several reasons for the increase in subscription prices. The company stated that the price hikes would allow them to "continue to invest in and innovate on our product features and bring users the best experience." This includes the development of new features, product improvements, and offering users an enhanced experience. Additionally, the price increases are aimed at helping Spotify achieve its first year of profitability, as the company has been working towards diversifying its revenue by expanding its offerings beyond music streaming to include podcasts, audiobooks, and high-fidelity audio.