Spotify to increase prices once again for US customers
The Swedish streaming platform Spotify has announced that it will hike subscription fees in the United States, following a round of increases in the UK and four other international markets.
In the summer of 2023, the platform increased premium subscription fees from £9.99 per month to £10.99 in the United Kingdom. This was the first time the company had implemented a hike in its ten-year run. In the US, this equated to an increase from $10 to $11 per month.
Spotify has now announced another increase less than a year on from the most recent price climb. The streamer will now charge $11.99 per month in the US, with Duo plans raised by $2 to $16.99 per month. Meanwhile, the family plan is $3 at 19.99 per month, and the student plan will remain unchanged at $5.99 monthly.
Spotify will implement the new pricing structure from July onwards. From now on, any new subscribers will be charged the increased prices immediately.
In a new statement to City AM, a representative for Spotify said the price increase was decided “so that we can keep innovating and delivering value to fans, the music industry, and creators on our platform, we occasionally update our prices.”
In the letter, they also wanted to reassure subscribers in the UK who have already endured a price hike earlier this year. “We’ve begun communicating with existing subscribers in the UK to explain what this means for their account,” they added.
Naturally, the new price increases have caused a stir among customers, especially following Spotify CEO Daniel Ek’s recent somewhat out-of-touch comments.
The founder of the multi-billion company suggested in a recent post on social media that it is now more accessible and affordable to create “content” thanks to modern technology such as AI. “Today, with the cost of creating content being close to zero, people can share an incredible amount of content,” he wrote. “This has sparked my curiosity about the concept of long shelf life versus short shelf life.”
He then addressed the fast-fashion nature of the music industry today. “While much of what we see and hear quickly becomes obsolete, there are timeless ideas or even pieces of music that can remain relevant for decades or even centuries,” he added.
“What are we creating now that will still be valued and discussed hundreds or thousands of years from today?” he finally questioned. Probably not a whole lot.
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