JAKARTA - Spotify will reportedly raise the subscription price for its music platform in the United States (US) in the next few weeks, for 1 US dollar (IDR 15 thousand) for individual packages.
According to sources familiar with this plan from WSJ, Spotify will also do the same thing around the world where the market will be in the coming months.
Spotify is one of the music streaming services that maintains a low price of 10 US dollars (IDR 150 thousand) per month.
The company has not changed the price of 9.99 US dollars (Rp150 thousand) per month for ad-free Premium packages since its launch in 2011.
Meanwhile, the price increase to 11 US dollars (Rp165 thousand) per month will follow the price set by Apple Music and YouTube Music.
Spotify CEO Daniel Ek previously said the company was considering rising prices in the US, which is the world's largest music market, and reflected on its competitors.
"When our competitors raise their prices, that's really good for us," Daniel said on the company's third-quarter 2022 earnings call.
He added that companies should also increase prices more than 40 times in markets around the world. "This is one of the things we want to do and will (discusse) with our label partners," said Daniel.
"I feel happy with this coming year, and what it means about pricing for our services," he continued.
Earlier this month, the company also asked customers to stop paying subscription fees via the App Store, as a result of long-term disputes with Apple about app cuts by 30 percent. This was quoted from CNET and Variety, Monday, July 24.
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