Spotify might be raising its prices just after Wrapped
Spotify is poised to raise its subscription prices in 2024, marking a significant change for its users. According to a report from the Financial Times, analysts from JPMorgan predict that the monthly subscription fee will increase by $1, pushing it to $12.99. This adjustment represents a notable shift since it will be the first price hike in the U.S. since July 2024, and it reflects a broader trend as Spotify has already implemented price increases in markets such as the UK, Switzerland, and Australia. This new pricing strategy comes in the context of Spotify’s 14-year history, during which the cost has risen by about $3 since its inception, signaling the company’s efforts to adapt to changing market conditions and operational costs.
As Spotify prepares for this price adjustment, the platform is facing scrutiny from its user base, with many expressing dissatisfaction on social media platforms like X and Reddit. Users are citing various reasons for their discontent, including complaints about the quality of music being produced and Spotify’s controversial decision to allow advertisements for ICE recruitment. This backlash is echoed by several musicians who have chosen to remove their music from the platform, including notable bands such as Deerhoof and King Gizzard & the Lizard Wizard. In addition to these challenges, Spotify’s CEO Daniel Ek recently announced his transition to the role of executive chairman, raising questions about the company’s leadership and future direction. Interestingly, as Spotify gears up for its annual “Spotify Wrapped” event—a highlight for users—there seems to be a noticeable decrease in the usual buzz and excitement surrounding it, suggesting a shift in user engagement and sentiment.
In this evolving landscape, Spotify’s decision to raise subscription prices amidst declining user satisfaction and artist withdrawals poses a significant challenge for the streaming giant. As the company navigates these turbulent waters, it remains to be seen how subscribers will react to the impending price hike and whether Spotify can reclaim its foothold as the leading music streaming service.
Well, it looks like your
Spotify
subscription is about to get even more expensive.
According to a
new report from the
Financial Times
, Spotify is planning to increase subscription prices in the new year. The report states that analysts from JPMorgan estimate that Spotify users will face a $1-per-month price increase, bringing subscriptions up to $12.99 per month, about $3 more per month than when Spotify first launched 14 years ago.
While this will mark its first price hike in the U.S. since July 2024,
TechCrunch reported
, the streaming service has increased prices in other countries including the UK, Switzerland, and Australia.
All the while, conversations about
Spotify Wrapped feel remarkably quiet
in comparison to previous years, when the end of November was full of posts that read, “WHEN IS WRAPPED GOING TO DROP I NEED IT NOW?!?!?!?!?!?”
This Tweet is currently unavailable. It might be loading or has been removed.
This is an interesting time for Spotify, to say the least.
Users have been leaving in droves, if you believe the sentiment of posters on
X
and
Reddit
, who say they’re ditching the app for a variety of reasons from
AI slop music
to
Spotify allowing ads for ICE recruitment
. Musicians, too, are
taking their music off of the platform
, including Deerhoof, Xiu Xiu, King Gizzard & the Lizard Wizard, Hotline TNT, The Mynabirds, WU LYF, Kadhja Bonet, Young Widows, and more.
Just a few weeks ago,
Spotify’s CEO Daniel Ek announced he plans
to step down to become the executive chairman.
