Spotify Considers Raising U.S. Subscription Prices – Report
Yesterday's price may not be today's price as Spotify is considering raising U.S. subscription prices.
According to a Business Insider report, published on Wednesday (Oct. 26), Spotify co-founder and CEO Daniel Ek reportedly said on Tuesday (Oct. 25) that he would like to increase the subscription price for its users. "Mostly to the [U.S.]-based price increases, it is one of the things that we would like to do, and this is a conversation we will have in light of these recent developments with our label partners," Ek reportedly told reporters during the earnings call.
Since Spotify's launch in 2011, the popular streaming service has charged $9.99 for its individual premium subscription and $15.99 for a family plan. During the third quarter, revenue for the company increased 22 percent to $3.04 billion, and the company said that it expects monthly active users of 479 million and premium subscribers of 202 million in the fourth quarter.
Ek reportedly said he felt "really good" about this upcoming year and "what that means in pricing in relation to our service."
XXL has reached out to reps at Spotify for comment.
Ek's remarks come after Apple Music raised its individual U.S. subscription rate on Monday (Oct. 24) from the current $9.99 price to now $10.99 per month. Additionally, the Apple Music family plan rose $2 from the previous $14.99 price point to now $16.99.
According to 9to5Google, YouTube also recently raised its premium family subscription from $17.99 per month to $22.99. However, it doesn't appear they have raised the price of YouTube Premium for individual accounts, which remains at $11.99 per month.