about “adjusting” the prices of its Premium service. This means that the prices of all four packages offered by the company have increased. In the case of the US, the price of an individual plan (Premium Individual) jumped by a dollar (to $ 10.99). The prices of the Family ($16.99) and Student ($5.99) packages increased by the same amount. More, because subscribers of the Duo version will pay two dollars – from $ 12.99 to $ 14.99.
Increases were introduced in dozens of countries around the world, including in the USA, Canada, Mexico, Australia, New Zealand, as well as in Great Britain, Sweden, France, Spain and many other European countries. However, Poland is not on the list. So glad that – at least for now – Spotify prices have not increased on the Vistula. Currently, the Spotify Premium version for one person costs PLN 19.99, the package for two costs PLN 24.99, and the family one – PLN 29.99. Traditionally, students pay the least – PLN 9.99 per month.
All streaming services bear prices
However, it is possible that the price of Spotify in our country will change in the near future. All competitors of the service decide to increase their prices gradually. The conglomerate that owns the platform, Alphabet, decided to increase the prices of the Premium service (giving access to the YouTube Music Premium service) by two dollars (to $13.99 now), the student package has gone up by a dollar (to $7.99), and the annual subscription has to pay as much as $20 more ($139.99). The price of the family package ($ 22.99) remained unchanged.
At the beginning of July, Tidal also informed about the increases. The platform increased the price of the HiFi package by a dollar (to $9.99), and the price of the family subscription went up by two dollars (to $16.99). The Tidal HiFi Plus package ($ 19.99) remains the most expensive, the price of which has not changed. In February, an increase for Music Unlimited and in October 2022, Apple Music ordered a price increase.
Spotify boasted of the results. More subscribers, but lower profit
Just a dozen or so hours after the information about the price increases, the financial results for the second quarter of 2023 turn out to be. It turns out that the company already has 220 million users subscribing to the Premium service, and the total number of people using Spotify (in the paid and free version) is as much as 551 million. This is 27% and 17%, respectively. more than in the same period last year. However, Spotify admitted that it earns less and less per user. Currently, it is EUR 4.27, i.e. 6% more than in the previous year. less than the quarter before (€4.32). The price increases are therefore most likely an attempt to reverse this trend. Spotify reported a loss of €302 million in the quarter.
Source: Gazeta
Mabel is a talented author and journalist with a passion for all things technology. As an experienced writer for the 247 News Agency, she has established a reputation for her in-depth reporting and expert analysis on the latest developments in the tech industry.
