Upcoming price hike: Spotify boosts its cost for users
Right On, Spotify's Pumping Up the Prices!
Hey there music enthusiasts, buckle up! Spotify ain't messing around with its latest move to rake up the prices for listeners in Latin America and Europe. You might wanna make room in your wallet for a bit more coin. According to Finnie Times, expect a hike of around a euro based on current pricing.
The price bump is coming in June and it's all because of a flattening revenue curve in the music world. The music industry has been calling for a price increase, claiming that the current rates aren't keeping up with inflation and don't compare favorably to video streaming platforms.
But that's not all Spotify has up its sleeve! The streaming platform is also cookin' up a new "Super-Premium" subscription, set to launch later this year in the U.S. for six bucks more than the current premium subscription.
The super-charged subscription will reportedly offer lossless, high-fidelity streaming, early access to new music, better audio quality, and a mysterious "DJ function". The service may even let users get their hands on concert tickets before anyone else.
Rumors swirling around the industry suggest the Super-Premium subscription could eventually introduce ads to the current premium subscription, like what's happening with video streaming services. Fingers crossed that doesn't happen!
As for the "Super-Premium" subscription's features and pricing, industry insiders are spilling the tea. The subscription might include lossless, high-fidelity streaming, exclusive content (maybe even new releases), superfan tools like concert ticket pre-sales, DJ remixing features, and expanded artist interaction options. Oh, and don't forget about those possible subscription add-ons like audiobook hours or Hi-Fi as modular upgrades.
The pricing for this new subscription will supposedly be between $15 and $19 a month, which is a $6 increase over the current individual Premium plan. There could also be regional adjustments for the price.
Spotify execs recently confirmed the development of the Super-Premium subscription, but they're still in talks with the industry to seal the deal. The Hi-Fi feature—first teased in 2021—is still missing in action, but we'll keep our eyes peeled for news on that front! Stay tuned, folks. The music keeps moving forward!
In light of the increase in prices for Spotify listeners in Latin America and Europe, music fans might need to adjust their finance plans to accommodate the unexpected curve in their monthly expenses. The new "Super-Premium" subscription, set to launch later this year, might introduce a raise in costs, with rumors suggesting prices between $15 and $19 a month – a $6 increase over the current premium subscription. The technology behind this upgrade promises high-fidelity streaming, exclusive content, and enhanced user interaction, making it a significant move in the business landscape of music streaming platforms. Despite the unknown future of this service, with potential add-ons like audiobook hours or Hi-Fi as modular upgrades, it's clear that Spotify is exploring new funds in the ever-evolving world of technology and entertainment.
