2023-07-21 21:34:00
Spotify is raising the price of its US subscription by $1, seeking to stay in the black. Although the change has not yet been announced, Spotify ad-free premium plan cost will jump to $10.99 per month. This marks the company’s first price increase out there since its introduction.
However, the company’s inability to remain profitable and increasing pressure from investors and music executives made the price increase almost inevitable.
According to The Wall Street Journal, the price increase should be announced next week. The company will likely raise prices in other markets in the coming months.
Still in the US market, Apple Music increased the cost of an individual subscription from US$ 9.99 to US$ 10.99 in October. Amazon Music Unlimited, Amazon’s all-you-can-play music streaming service, costs $8.99 for Prime members or $10.99 for non-Prime members.
In July, Spotify announced that it would cut all remaining customers who paid for their Spotify Premium subscriptions through the App Store. Swedish-origin streaming follows the most popular in the US, with 44.4 million paid subscribers.
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