Earlier this year, Spotify announced that its streaming service will increase monthly user prices.
“The price of individual plans will increase by $1 per month while family and duo plans will increase by $2 per month,” according to Business Insider.
Spotify has implied that the price changes would go towards artists on the platform to give them a larger contribution to making the table enjoyable.
“The company has said it pays out $0.70 for every dollar it makes to music owners, and it’s shelled out hundreds of millions for podcasts. The “Joe Rogan Experience” podcast alone cost the company at least $200 million for a multiyear deal,” Business Insider added.
With other popular streaming services in use, Spotify has not been making as much money as it would like, as most of the money that it gains covers podcasts.
Before the member price increase last year in July the company explained, “So that we can keep innovating, we are changing our Premium prices across a number of markets around the world. These updates will help us continue to deliver value to fans and artists on our platform.”
“I think that since everything else has been so expensive lately, it’s only fair for Spotify to also increase their prices. it is a bit annoying, but as long as the money is going towards the artist I’m okay with it, ” said Tienna Phan, a Braintree High Junior.
