Spotify Is Raising Its US Pricing Once More

Spotify Is Raising Its US Pricing Once More

Spotify, a Swedish music streaming service, is once more raising its US membership costs. Now that the price hike is in effect for all of their premium levels, Spotify may no longer be as appealing, particularly to families.

In comparison to Apple Music, Spotify’s primary rival, this most recent price rise disadvantages the Family plan. The Family plan for Apple Music is still available for $16.99 and provides the same six-account capacity at a discounted cost.

The Rationale For The Price Increase

Spotify said that the price hike is necessary in order to “continue to invest in and innovate on our product offerings and features”. They’ve been branching out into audiobooks and podcasts, which may help justify the investment.

But given that Apple Music provides a comparable feature set for families at a lesser cost, some customers may find themselves reconsidering their choices for streaming services.

Spotify has never made a profit since going public in 2018, but its latest pricing rises have helped the company find success. Despite worries that rising charges might cause cancellations, the firm saw its greatest year of user growth ever last year, with 113 million new sign-ups for both paid and free programs.