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Get ready, Spotify plans to raise prices soon

According to Spotify’s chief executive, the brand wants to raise subscription prices, so make sure you’re ready.

In some less-than-amazing news, Spotify’s chief executive, Daniel Ek, says that the brand wants to raise the price of its monthly subscription but that it was waiting on deals with record labels before doing so, likely to help iron out what exactly the new prices might be. This isn’t exactly a shock, though, considering back in 2022 Ek said that a US price increase was a thing the company wanted to do.

There hasn’t been any official word yet on a price increase, but given the comments above, it feels fairly inevitable that Spotify will raise its prices in the not-too-distant future. However, we still don’t know not just when an increase might come but what that increase could look like. In the here and now, though, Spotify is one the cheapest streaming services around with its $9.99 a month standard plan for an individual.

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Other services like Amazon Music Unlimited, Apple Music, or Tidal don’t necessarily cost worlds more than Spotify does, but they will generally run you a couple of extra dollars a month, depending on your plan of choice. Naturally, a price hike isn’t ever a win for the consumer, but if one of the major streaming services had to raise prices, Spotify does seem the best fit. Luckily, a couple of dollars extra a month at worst probably won’t be the end of the world.

However, many folks out there choose Spotify simply because it’s the service they’re most familiar with. Other services like Apple Music have larger libraries to choose from, while services like Tidal offer up higher-quality music. Point being is that when Spotify does raise prices, even if it’s a comparatively cheap service, some users out there may well reevaluate their options and decide to sign up elsewhere if they have to pay more anyways.

Of course, the longer-term effects of a price increase have yet to be seen, so we’ll all have to wait for Spotify to announce and implement a price hike before coming to any conclusions.

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