Spotify is about to introduce a more expensive membership tier from an industry person with knowledge of the situation. We’ve heard rumors about a more costly scheme before, but the most recent information points to its impending implementation.
It is anticipated that the new tier would provide users improved playlist creation and music library management capabilities in addition to HiFi audio streaming, or lossless audio streaming. Though this may differ by area, the estimated cost will be about $5 more than the present plans. In most areas, this means a price increase of about 40%.
Spotify has raised the cost of its US subscriptions in an effort to improve profits. The Duo and Family plans received increases of $2 and $3, respectively, while the single plan saw a $1 increase.
Apple Music, whose individual and family plans are still priced at $10.99 and $16.99, respectively. It’s interesting to note that Apple, Spotify’s primary rival, could update its pricing model to align with Spotify’s in response to the latter’s recent price increase. This is a typical strategy used by businesses in marketplaces that are competitive and where price alignment is frequent.
The declared price rise is only applicable in the US, although it’s conceivable that comparable adjustments may eventually be made in other marketplaces. The family plan on Spotify was formerly priced at Rs. 479 per month, but it is now available for Rs. 579 in Pakistan due to recent changes in the service’s membership fees. But this boost is little compared to the recent spike in the United States, indicating that any such hikes in Pakistan are probably going to be less.
Following the price rise in the US, Spotify is now more expensive to subscribe to than Apple Music, which still charges $10.99 and $16.99 for individual and family subscriptions, respectively.
It’s interesting to note that Spotify’s new price change may force Apple, its primary rival, to update its pricing model to reflect Spotify’s. This is a typical strategy used by businesses in marketplaces that are competitive and where price alignment is frequent.
