TechMagPK
Spotify has revealed yet another price increase, which backs up rumors that started in April. Following a $1 increase next month, the top plan will now cost $11.99 per month instead of $10.99.
It will also cost $2 more for the Duo plan, which lets two people use it, making it $16.99 now. The price of the family plan will go up by $3, to $19.99 per month. But the $5.99 monthly for the student plan will not change.
Also Read: How to Create a Spotify Playlist in 13 Steps
For now, this price increase has only been revealed in the US. However, it wouldn’t be a surprise if it spread to other markets in the future. Paid Spotify plans recently went up in Pakistan as well. For example, the family plan used to cost Rs. 479 per month but now costs Rs. 579. The most recent price increase in the US was much bigger than this, so any price increases in Pakistan will likely be much smaller.
In the US, the price increase for Spotify now makes it more expensive than Apple Music, which still charges $10.99 for an individual plan and $16.99 for a family plan.
But Spotify’s latest price increase could cause Apple, its biggest competitor, to do the same. This is a usual move for companies in competitive markets where prices are often the same.
A 20% rise in income and a 14% rise in premium subscribers show that Spotify’s finances are in good shape. This makes it seem like the price increase isn’t a sign of panic, but rather an attempt to make even more money during a good performance.
