Spotify is now gearing up to increase the price of its premium subscription service for any user who wants to stream music ad-free.
As is known, previously in the midst of increasing price spikes in the music streaming market, Spotify became one of the platforms that refused to increase the price of its subscription.
By making the price of premium services go up, it shows that Spotify will change in terms of the price that has been determined by the company to premium subscribers.
Even so, the price increase for the premium Spotify service doesn’t look significant, because it only increased by $ 1 or around Rp. 15 thousand, reports Gizmochina. On the other hand, it marks a change in the premium subscription pricing strategy, which has been steady at $9.99 for a while.
The news regarding this upcoming price increase came after the provider company streaming othermusic increased the price of its services over the last year.
While the Swedish music streaming giant has benefited from an influx of subscribers switching from other streaming services that are increasing in price, it now looks like the company will have to jump on the trend of increasing prices to cut losses and retain its users in the long term.
According to a report from The Wall Street Journal, Spotify is expected to make an official announcement of the new pricing in the US market as early as next week. This new subscription fee of $ 10.99 or around Rp. 165 thousand for the ad-free plan will apparently take effect after the announcement.
While this is bad news for existing Spotify subscribers, it’s important to note that higher prices will apply in other regions. On the other hand, companies are even laying off employees in large numbers to offset economic inflation.
Currently, Spotify offers a free, ad-supported plan that allows users to stream music from its massive library of 80 million songs, podcasts, and audio books. However, there are some limitations such as no downloading, offline listening and playing songs only in certain playlists.
Meanwhile, the premium package allows subscribers to listen to songs ad-free, download music and podcasts for offline listening, and the freedom to play any song they want. In addition, premium subscribers can also enjoy high-quality music.
On the other hand, students can take advantage of a 50% discount on premium plans for up to 4 years, which makes the price even more affordable. Then, couples can take advantage of the Premium Duo package which offers two premium accounts at a discounted price.
Apart from that, there is also a family package, which includes up to 6 people with their own premium account, and this package also includes Spotify Kids and an explicit content filter.