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Amazon Music will raise the price for its prime subscribers, the eCommerce giant reported today.
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The new rate will come into force from next May 5.
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Currently, Amazon Music ranks third in the ranking of the streaming platforms with the most registered users.
Confirmed: the eCommerce giant is raising the price of its Amazon Music platform for all prime subscribers.
For years, the way of consuming and listening to music changed following the arrival of Spotify, the Swedish streaming platform that is currently the market leader.
This is confirmed by data from Statista, where it is ensured that, since 2013, the Stockholm platform has been increasing the number of its subscribers. In that year, it reached the figure of 30 million subscribers and eight years later, by June 2021, the number rose to 365 million monthly active users and 165 million Premium users.
In that sense, it is clear that we are talking regarding the most popular streaming music platform in the world; Apple Music, which occupies the second position in terms of popularity, has more than 65 million subscribers worldwide, who enjoy a catalog of more than 90 million songs.
On the other hand, Amazon Music, launched in 2007, had registered just over 70 million subscribers globally until 2021an increase of more than ten million users with respect to the number of people subscribed at the end of 2020.
Undoubtedly, the pandemic has been one of the processes in which this type of platform increased both in the number of its users and in its income, as indicated by the International Federation of the Phonographic Industry (IFPI), which mentions that revenue from streaming platforms recorded an increase of 21.9 percentwhich in monetary figures means 12 thousand 300 million dollars.
Similarly, the IFPI stated that, by the end of 2021, there were already more than 523 million users of paid subscription accounts. Global streaming accounted for 65% of total revenue.
Amazon Music rises in price
Today, however, the eCommerce giant has decided to raise the price of Amazon Music, this following it also recently made changes to the price of its Amazon Prime Video content platform in the United States.
According to what the company itself has shared, The new Amazon Music rate will take effect from May 5 and will be available to all Prime subscribers, who will now have to pay the amount of $8.99 per month or, failing that, $89 per year. por Music Unlimited.
Until now, this measure will only be implemented in the United States, although the possibility of establishing it in other countries is not ruled out.
a new competitor
In short, consumption habits have changed since the arrival of streaming, so much so that a few days ago TikTok announced the arrival of its own music distribution platform, called SoundOn.
According to what the Chinese social network explained, the idea is to promote young or emerging talent through its powerful platform which, by the way, has already managed to exceed one billion monthly active users.
And it is that, in the rise of digitization, music, like almost all content, is consumed in a very different way and, in that sense, artists are looking for greater exposure, especially in a context in which that the music industry is no longer the same as it was 10 years ago.
