It looks like Spotify is about to raise the price for their premium subscriptions in several locations across the globe, including the United States, Australia, and the United Kingdom.
According to consequence.net, prices are reported to be increasing by $1 per month for individual plans while duo plans and family plans will increase by $2. They are also planning on launching new basic tier set at $11 per month. This plan will have similar features to the premium plan, excluding access to audiobooks. (via consequence.net)
This decision follows the layoff of 17% of Spotify’s workforce, which happened back in December. Before this, they announced new minimum threshold of streams for artists to reach before they could receive compensation. In this same announcement, Spotify declared their efforts to restrict fraudulent and “non-music audio content.” (via consequence.net)
It also appears that this decision was influenced by increasing pressures and criticisms about Spotify payouts. Many rightsholders, including Warner Music Group and Universal Music Group, have called out all streaming platforms on this, and have requested that these platforms should be charging more. (via consequence.net)
Spotify has not yet announced when this price increase will take effect.
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