Spotify is apparently going to increase the cost of its premium subscription, following the ranks of YouTube, Netflix, Amazon Music, and a number of other streaming services. So, how much we’ll have to pay for Spotify now? Read more below and find out all the important details.
More Money For a Spotify Subscription
Get ready for a change! Spotify has announced that it intends to add an additional dollar per month to the cost of its premium ad-free streaming subscription. That’s quite shocking, isn’t it?! But what could be the reason behind all of that?
It would appear that the streaming behemoth is making these actions in an effort to maintain its competitive edge in the rapidly expanding streaming industry, following in the footsteps of Netflix, Amazon Music, and others. Do you consider such a move is actually necessary? Well, if we think better, the trend has spread over several services and companies.
Apple Music, a huge competitor to Spotify, raised its costs back in October 2022 by $1 for individual users and by $2 for families, bringing them to $10.99 and $16.99/ month, respectively. This week, YouTube Music likewise hiked the price of its individual music plan, taking it from $8.99 per month to $10.99 per month.
Even Amazon Music has altered its pricing choices, increasing the price of its “Unlimited Individual Plan” from $9.99 to $10.99/ month while simultaneously increasing the price of its student plan from $4.99 to $5.99/ month. When it comes to Netflix, the “Standard Plan” costs $15.49/ month, the “Premium Plan” with four parallel streams costs $19.99/ month, and the “Standard Plan with Ads” costs $6.99/ month.
According to a report from Bloomberg, Spotify was rumored to be working on an ad-free alternative that would be internally referred to as “Supremium” and would have high-fidelity (HiFi) music, with the introduction of this feature slated for later this year. Therefore, it could truly be the true explanation behind the modification of the price options.