According to consequence.net, Spotify will be increasing the monthly subscription prices of their premium plans. The price of Spotify’s Individual plan will increase by $1 per month to $11.99, while the cost of Spotify’s Duo plan will jump $2 per month to $16.99. The monthly rate of Spotify’s Family plan will rise $3 per month to $19.99. The streaming platform’s discounted Student plan will remain the same with $5.99 per month.
For comparison, Apple Music’s Individual plan is priced at $10.99 per month, the student plan is priced at $5.99 per month and the Family plan stays at $16.99 per month. Elsewhere, TIDAL’s Individual plan also costs $10.99 per month, the Student plan is priced at $4.99 per month and the Family plan goes for $16.99 per month.
The price changes will go into effect for existing Spotify subscribers over the next month and new subscribers will be subjected to the new rates immediately. Spotify has mentioned that the price increase will allow the company to “continue to invest in and innovate on our product features and bring users the best experience.” The streaming music service last increase in prices happened in July 2023.
Spotify’s decision to increase prices for their premium subscribers follows turbulent time for the platform. The Mechanical Licensing Collective recently filed a lawsuit against Spotify over allegations that the company is allegedly cheating songwriters out of $150 million of royalties by allegedly reclassifying certain Premium services as bundles.
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