According to sources cited by WSJ on Friday, Spotify intends to raise the price of its premium streaming plan by $1 per month.
Spotify’s New Premium
This move by the streaming behemoth comes as it attempts to remain competitive in an increasingly crowded streaming market, following in the footsteps of Netflix and Peacock, both of which have made similar price adjustments.
The proposed price increase would raise the monthly cost of Spotify’s individual “Premium Plan” in the United States to $10.99.
It should be noted that this is not the same pricing as in Pakistan because music services are much cheaper in our country.
There is no word on whether Pakistan will see a price increase, but it will most likely be smaller than in the United States.
One Of Numbers
This is just the latest example of streaming services, such as Netflix, YouTube, and Apple, raising their prices as the streaming industry expands.
YouTube Music also jumped on board this week, raising the price of its individual music plan from $8.99 to $10.99 per month.
In a similar move, Apple Music, Spotify’s competitor, raised its prices by $1 for individual plans and $2 for family plans in October, bringing them to $10.99 and $16.99 per month, respectively.
Netflix, on the other hand, altered its subscription model this month, discontinuing its most affordable ad-free plan for new customers in the United States and United Kingdom.
This move was intended to steer new subscribers toward more expensive ad-free plans or a less expensive plan with ads, a step that Netflix had previously vowed to avoid.
To read our blog on “Aima Baig shines at Spotify’s Times Square billboard,” click here