Spotify Says Upcoming Price Increases Are Needed to Bring Users 'The Best Experience'

Spotify Says Upcoming Price Increases , Are Needed to Bring Users , 'The Best Experience'.
NBC reports that Spotify will
soon be bumping up the price of
subscription plans in the United States. .
According to a statement on the company's website,
increases are necessary for the audio streaming service to, "invest in and innovate on our product features
and bring users the best experience.".
The changes include
the Premium plan increasing
from $10.99 to $11.99.
The duo plan, which is meant for
two users in the same household,
will increase from $14.99 to $16.99.
The family plan, meant for up to six
users who share a household, will
increase from $16.99 to $19.99.
The price of the service's limited-service
ad-supported tier and the $5.99 plan
for students will remain the same.
NBC reports that this is only
the second time that Spotify
has increased its prices in the U.S.
CEO Daniel Ek recently pointed out that the company has been
consistently profitable, despite narrowly missing the
most recent monthly active user growth targets.
CEO Daniel Ek recently pointed out that the company has been
consistently profitable, despite narrowly missing the
most recent monthly active user growth targets.
In April, Bloomberg News first reported that Spotify might be
increasing prices to cover the cost of audiobooks, which includes
royalty payments that comprise a majority of its budget.
In April, Bloomberg News first reported that Spotify might be
increasing prices to cover the cost of audiobooks, which includes
royalty payments that comprise a majority of its budget.
Spotify's price increases come as some other companies
in the U.S. have been announcing price cuts amid
signs consumer spending may be waning