Another tradition that is slowly creeping into Spotify is frequent cost increase and this has occurred yet again. The streaming service had to release it, sharing the bad news to its American viewers, the only ones impacted. .. For now.
This new thinking suggests a new price increase associated with Spotify premium subscriptions. In the UK, the Personal plan will cost £5 whereas in the rest of the world it will cost 8 Euros or $11 in the US. I have also noticed that the charges have increased from $79 to $99 per month which is 20 per cent increase. Offer Duo increase the price by $2 to reach $16. 99 (+30%); last but not the least the Family subscription comes out as quite expensive with a hike in the price of $3, to $19. 99 (+25%)! This sore will be implemented from the next month.
The streaming platform said that this is ‘’will enable it to continue to invest and innovate and enhance the experience.’’ Other customers will learn about the news for the next few days as they will receive emails about the same.
To Spotify, this new increase should not have a too severe effect on the number of paying subscribers and this new increase appears as convenient to explain below. A study performed in the context of the Antenna company shows that their customers represent the lowest chance of canceling the subscription (the monthly churn rate of 2%, which is the same as Netflix). Spotify Net Increases Paid Subscribers by 29 Mn in Entire Last Year; Global Price Hike Occurred in July.