Spotify can be utilized totally free, however to unlock extra options, music lovers can subscribe to certainly one of the streaming services’ premium tiers. Probably the most fundamental of these plans, for a single consumer, at present prices $9.99 per 30 days within the US. That would change quickly, although.
Yesterday (April 25), in a convention name discussing Spotify’s first quarter earnings (as Billboard notes), Spotify CEO Daniel Ek mentioned, “I feel we’re prepared to lift costs, I feel we now have the flexibility to try this, nevertheless it actually comes right down to these negotiations [with major music industry stakeholders].”
Ek additionally famous, “We did increase costs in 46 completely different areas and markets final 12 months, and even in these markets, we had been nonetheless out performing. I really feel actually good about our capacity to lift costs over time — that we now have that capacity — and we now have numerous knowledge now that backs that up. We might have been marginally helped by being a lower-cost supplier, nevertheless it isn’t a main a part of our technique and it’s not one thing that we’re interested by. As a substitute, we’re working with our label companions to work […] to determine what’s the very best alternative to try this. And that’s a extra complicated commerce. When the timing’s proper, we are going to increase it.”
This comes after Spotify had about $3.3 billion in complete income through the first quarter of 2023. That’s a 14-percent enhance over 2022, however as Billboard notes, it’s “barely decrease than the corporate anticipated as macroeconomic fears crimped Spotify’s promoting enterprise by round $20 million.”