Romain Rouillard / Photo credit: THILINA KALUTHOTAGE / NURPHOTO / NURPHOTO VIA AFP
modified to
7:04 p.m., July 25, 2023
The Swedish music platform has announced, for the first time, an increase in its prices. The Premium solo subscription, allowing unlimited listening, without advertising and offline, thus passes the symbolic bar of 10 euros per month (10.99). And aligns with the prices practiced on the side of the competition.
Spotify will therefore follow the movement initiated by Deezer and Apple Music. At the end of last year, the two music platforms had increased their prices and crossed the 10 euro monthly mark for a Premium solo subscription. An upward trend which will not escape the number 1 of the sector. The Swedish Spotify in turn increases the bill for its users.
Thus, the individual subscription amounts to 10.99 euros per month while the “Duo Premium” formula, which allows unlimited listening, without advertising and offline on two devices, is established at 14.99 euros (an increase of 2 euros). It will take up to 16.99 euros for the family pack. Students will be the best off with a price set at 5.99 euros per month.
“Provide value to fans and artists”
These new rates will be applied in 52 countries, including France, Spotify said in a press release. “These updates will help us continue to deliver value to fans and artists on our platform,” the company says, also arguing that “the market landscape has continued to evolve since our launch.”
However, with nearly half a billion users worldwide, including 200 million Premium subscribers, the platform has experienced significant financial setbacks over the past year. In 2022, net losses reached the sum of 430 million euros and led to the elimination of nearly 600 jobs last January. At the time, Spotify had already speculated about a future price increase. Since its launch in 2008, the Swedish music streaming giant had never changed its price list.