Spotify will be raising its prices by 10% in Norway for new customers starting in May, with the price rise set to be rolled out to existing customers in July.
The news comes courtesy of a report from Bloomberg, and was later confirmed by a spokesperson from the company. The increase will see the price rise from the standard 99 kr to 109 kr per month.
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Obviously, this is terrible news for Norwegian music lovers, but the bigger question is whether this price rise is going to be repeated elsewhere in the world.
Spotify is unusual in that its price has remained pretty static since it launched just under 10 years ago. We wouldn’t go as far as to say it’s the third of life’s reliable constants alongside death and taxes, but it’s pretty damn close.
First price rise in a decade
But 10 years is a long time to go without a price rise. If Spotify’s price had risen in line with inflation it the UK over the past decade (during which time yearly inflation has varied between 0.4% and 3.8%), we’d expect the service to cost just shy of £12.50 by 2018.
But, again, no price rise has been so much as rumoured for the UK just yet.
Spotify’s timing for experimenting with this price increase in Norway comes hot on the heels of the company going public on the New York Stock Exchange, and also announcing a newly revamped free service.
Given these developments, it seems the company is keen to entice more people onto its platform, and then to monetise them better once they’re ready to pay for its premium service.
But whether the price rise does become global is anyone’s guess. Netflix hasn’t been shy about increasing its prices over the years, and it doesn’t seem to have hurt its subscriber growth, but then Spotify has a lot less exclusive content than the home of Stranger Things and Mindhunters.
When we got in contact with Spotify, a representative said: “The cost of Spotify varies across select regions. In order to meet market demands and conditions, while continuing to offer a great personalized service, Spotify will be increasing the price of our Premium subscription in Norway. The price change will come into effect for new users on May 1st. Existing subscribers will keep their current price until July 2018.”
Would you be prepared to pay £11 a month for Spotify Premium? Let us know @TrustedReviews.