Is Spotify Raising Prices First Time Since Its Launch in 2011?

If you are a Spotify premium user, it is time for you to revise your monthly budget as your favorite music streaming app is planning to raise prices for its premium ad-free service. And in this article, I will tell you about Spotify raising prices and how much the prices will vary from the initial price. So come along!

For a long time now, Spotify had stayed at its initial monthly subscription price of $9.99 even when its rival Apple Music raised its subscription price last year to $10.99. But from the next week, Spotify is all set to raise the subscription price for its U.S. market by $1. This move of Spotify is coming following the price rise by other streaming services like Amazon Music and YouTube Music.

So without further ado, let’s jump into the article and learn more about Spotify raising prices. Why wait, then? Let begin!

Is Spotify Raising Prices?

The news of Spotify price increase in 2023 was first reported by Wall Streat Journal, “Audio company had avoided an increase but faces investor pressure to boost profitability.” And the subscription price will increase from $9.99 to $10.99. Though at that time, there was no official statement from Spotify on the suspected price rise but citing an anonymous source, the Wall Street Journal said, “The price hike in the United States market is expected to be announced next week, followed by similar increases in dozens of markets globally in the coming months.”

But recently, Spotify shared a blog post announcing price updates in which they write, We occasionally update our prices as we continue to innovate and invest in giving you better listening experiences…We may also adjust our prices to reflect local factors and meet market demands while offering an unparalleled service to listeners.”

In this blog post, Spotify clearly mentioned that if there is any change in the price of your subscription plan, they will inform you about the change by sending you a mail “in advance with information about the new price and when the change will happen.”

And if you would like to cancel your Premium plan, you can do it anytime to use their free, ad-supported service instead.

But in this blog post, there is no mention of raising the payout for the artist that make the company alive. This raised some fingers. If they can raise the subscription price by 10%, then they should also increase the payout, if not by 10% but by at least 5% to 4%

Raising prices but not raising payouts for the artist WHO MAKES YOUR COMPANY ALIVEEE…. #Spotify https://t.co/jnWTjdTln2 pic.twitter.com/QTAJ6U8bDR

— ᴄʟᴏᴜᴅ  (@clearxclouds) July 22, 2023

Also, read How to Get Spotify Presale Code in 2023: Get Exclusive Access Now!

Why Did Spotify Raise Their Prices?

Spotify is raising their prices by 10% starting next week. The rest of the market will follow.

Expect more 10% increases moving forward. Why? See below…

💡Artists, this is your reminder to build your own community. Own your community. Be in control of your future
#VCEEZY pic.twitter.com/AGF76bXGqL

— VCEEZY (@VceezyNFT) July 22, 2023

Spotify states innovation and investment as one of the reasons for the price increase which will make them competent to give its users better listening experiences and more value than ever before. Another reason for the price rise stated by Spotify is to “meet market demands while offering an unparalleled service to listeners.”

Though the actual reason is to offset the rising costs of licensing music and remain competitive in a growing streaming marketplace.

Did Spotify Raise Prices for Students?

Yes, Spotify prices will increase for students’ subscription plans by $1, bringing the monthly costs from $4.99 to $5.99.

Also, read The Best Spotify Equalizer Settings in 2023: Music Bliss Unleashed

Wrapping Up

With this, I come to the end of this blog, and I hope you find this article on Spotify raising prices for its premium ad-free service informative. So now it is up to you whether you want to continue with Spotify or want to explore some new music streaming app that will offer you a good music listening experience without being hard on your pocket.

So, guys, that is it for today. Take care! And keep visiting our website, Path of EX, for more such updates related to Social media, Gaming, and Technology. Till then, Bye! Bye!

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