Over the years, Spotify has developed a reputation for being a user-friendly music streaming app. For a while, the company has remained steady with its subscription fees. However, that would change soon.
Spotify is preparing to raise its monthly subscription fees in the United States by $1 (~RM4.58). Previously, the subscription fee for the ad-free Premium Music Plans has remained at $9.99 (~RM45.71) for quite a while. Since other major players in this industry have increased their service prices, a price hike is the only logical choice for the company to keep up.
Rates for Spotify's Premium Plans as of now
According to a report from The Wall Street Journal, the announcement of the price increase in the US market could happen as early as next week. The new subscription fee of $10.99 (~RM50.28) for the ad-free plan will likely take effect shortly after the announcement. While it can be upsetting for Spotify fans, they should remember that this price hike is needed. After all, their favourite music streaming app needs to keep up with the inflation in this economy.
For Malaysian fans, the price hike might deter you, but that is just how business works. You can also choose other music streaming platforms if it suits you better. Ultimately, the choice is in your hands.
What are your thoughts on the price hike? Stay tuned for more news like this at TechNave!
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