Spotify Premium gets more expensive in US. Is India next?
Spotify Technology said on Monday it was raising the prices for its premium plans by $1 each in the United States, as the music streaming company looks to boost profitability in an uncertain economy.
Spotify, which competes with rival services from Apple and Amazon.com, has been under pressure to focus on profitability over user growth as recession-wary customers cut down on unnecessary spending.
The cost of Spotify’s ad-free premium plans would now all be priced at an additional $1 with the premium single at $10.99, duo at $14.99, family at $16.99 and the student costing $5.99. Shares of the company were up more than 1 percent in trading before the bell.
The hike in price is the company’s first move since the launch and was also impending for a long time. Other leading music streaming services, such as Apple Music, Amazon Music, and Tidal, have already increased their subscription charges in the US. Spotify’s more expensive Premium tier could also be a precursor to the launch of its highest-end tier, which will offer lossless and spatial music streaming to users. Spotify was spotted testing a ‘Supremium’ plan, which might be the Spotify HiFi that the company announced more than two years ago.
Will Spotify hike India prices?
Although Spotify has announced a hike for the Premium subscription in the US, it has not said anything about other markets, including India. However, Spotify Premium’s monthly subscription is already the most expensive in India. It costs Rs 129 a month, which is higher than Rs 99 per month that Apple Music and YouTube Music ask for and Amazon’s Rs 1499 annual Prime plan.
— Written with inputs from Reuters
The post Spotify Premium gets more expensive in US. Is India next? appeared first on Techlusive.
Spotify Technology said on Monday it was raising the prices for its premium plans by $1 each in the United States, as the music streaming company looks to boost profitability in an uncertain economy.
Spotify, which competes with rival services from Apple and Amazon.com, has been under pressure to focus on profitability over user growth as recession-wary customers cut down on unnecessary spending.
The cost of Spotify’s ad-free premium plans would now all be priced at an additional $1 with the premium single at $10.99, duo at $14.99, family at $16.99 and the student costing $5.99. Shares of the company were up more than 1 percent in trading before the bell.
The hike in price is the company’s first move since the launch and was also impending for a long time. Other leading music streaming services, such as Apple Music, Amazon Music, and Tidal, have already increased their subscription charges in the US. Spotify’s more expensive Premium tier could also be a precursor to the launch of its highest-end tier, which will offer lossless and spatial music streaming to users. Spotify was spotted testing a ‘Supremium’ plan, which might be the Spotify HiFi that the company announced more than two years ago.
Will Spotify hike India prices?
Although Spotify has announced a hike for the Premium subscription in the US, it has not said anything about other markets, including India. However, Spotify Premium’s monthly subscription is already the most expensive in India. It costs Rs 129 a month, which is higher than Rs 99 per month that Apple Music and YouTube Music ask for and Amazon’s Rs 1499 annual Prime plan.
— Written with inputs from Reuters
The post Spotify Premium gets more expensive in US. Is India next? appeared first on Techlusive.
