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Most Spotify Premium plans now cost more. Subscribers will pay an additional $1 to $3 monthly for the service. See what you need to know about the price hikes.
The Spotify Premium Individual plan is increasing by $1, from $10.99 to $11.99 per month, according to the company’s updated price listings. The Premium Family plan, which provides access for up ...
The two other premium plans, Premium Family and Premium Student, will also increase by $1. Premium users get a variety of perks, including on-demand music and ad-free listening. SEE MORE: Spotify ...
Spotify is upping the cost of its premium plans in the U.S., in a move that reflects a trend among streaming services to hike prices in pursuit of greater profits.
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Spotify, a music streaming company, has attracted significant criticism since its 2008 launch, [1] mainly over artist compensation. Unlike physical sales or downloads, which pay artists a fixed price per song or album sold, Spotify pays royalties based on the artist's "market share"—the number of streams for their songs as a proportion of total songs streamed on the service.
Spotify's revenue for Q1 2020 amounted to €1.85 billion ($2 billion). A large part of this sum, €1.7 billion ($1.84 billion), came from Spotify Premium subscribers. Gross profit in the same quarter amounted to €472 million ($511 million), with an operating loss of €17 million ($18 million). [203]
Spotify is finally set to hike the price of its music streaming subscription in the U.S. to $10.99 per month for an individual plan — up one dollar — according to a Wall Street Journal report.