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A Spotify Premium Price Increase Coming Soon?

Spotify will consider a increase in the price of the Premium subscription after that both Apple and YouTube have announced similar maneuvers. To affirm it Daniel Ek in person, co-founder and CEO of the Swedish streaming giant. The news comes right on the day Spotify announced it had reached the 195 million subscribers to the Premium service.

“Our competitors are raising prices, which is really good for us,” said Daniel Ek. “Spotify has the lowest churn rate of its competitors and offers a great proposition for customers.”

The price increases announced by Apple consist of an additional $ 1 for the single plan of Apple Music and an additional $ 2 for the family plan. Apple One, which includes streaming video, music, games and various other cloud services, has also seen an increase. With regard to YouTube instead the increase will concern the Premium family plan, which will go from $ 17.99 to $ 22.99. At the moment this increase would seem to concern only the United States.

Daniel Ek: “We will also evaluate a price increase for Spotify”

“We would also like to raise the price of the subscriptions, and this is something that we will consider together with our partners,” added Daniel Ek, suggesting that the rates could change soon, at least for the United States.

Spotify’s third quarter surpassed expectations with 456 million monthly active users and 195 paid subscribers. Revenues reached i 3 billion eurosin 21% increase compared to the previous quarter. Nevertheless Spotify shares fell more than 5% after the close of the Wall Street stock exchange.

Meanwhile, the controversial story of the birth of Spotify and its founder Daniel Ek has been expertly told in The Playlist, a Netflix series we told you about here.

Walker Ronnie is a tech writer who keeps you informed on the latest developments in the world of technology. With a keen interest in all things tech-related, Walker shares insights and updates on new gadgets, innovative advancements, and digital trends. Stay connected with Walker to stay ahead in the ever-evolving world of technology.