Upcoming Price Hike: Spotify Amplifies Its Costs
Latin America and Europe brace for Spotify price hike and new Super-Premium subscription
It's time to open your wallets a little wider, music fans, as Spotify is set to increase subscription fees for users in Latin America and Europe. The Financial Times reports an approximate one euro increase starting June, in response to a flattening revenue curve in the music industry.
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The music streaming platform, which has previously enjoyed years of growth in the industry, is following the recent trend of price hikes among services. The industry has been pressing Spotify and others to increase prices, claiming they have not kept pace with inflation and lag behind video streaming platforms.
Super-Premium Subscription on the Horizon
Adding fuel to the fire, Spotify is planning to roll out a new Super-Premium subscription later this year, according to unnamed sources. Exclusive features like early access to new music, superior audio quality, and a mysterious "DJ function" are rumored to be part of the package. Intriguingly, there may be early access to concert tickets for subscribers.
The new subscription, priced six dollars higher than the existing Premium subscription, is slated to launch in the US this fall. However, there are concerns that advertisements could be introduced to the current Premium subscription, as observed with video streaming services offering similar Super-Premium tiers.
Spotify's Super-Premium Subscription: The Scoop
While the details of Spotify's proposed Music Pro tier, or Super-Premium subscription, are still in flux, here are some insights:
- Pricing and Launch Date: Blooomberg speculates that the Music Pro tier could cost an additional $5.99 per month above a Premium subscription[1]. A concrete launch date has yet to be unveiled, with Spotify CEO Daniel Ek hinting at a launch this year[1][2], pending industry partner collaboration.
- Benefits: Possible advantages of this high-tier subscription include early access to concert tickets, AI-powered remix features, and higher-quality audio, potentially part of Spotify HiFi[1]. Spotify HiFi, delayed by licensing issues, aims to deliver lossless audio.
Spotify remains dedicated to developing these higher-tier offerings, but collaboration with industry partners is crucial before finalizing the rollout[1][2]. The launch of Spotify HiFi, a likely keystone feature of the Super-Premium tier, is still pending due to ongoing licensing struggles[4].
Brace yourselves for the summer hike and the upcoming Super-Premium subscription from Spotify – it's set to bring exciting new features to your music streaming experience!
[1] https://www.bloomberg.com/news/articles/2023-04-05/spotify-gets-unstuck-after-paying- artists-as-streaming-company-soars[2] https://techcrunch.com/2023/03/10/music-pro-spotify-super-premium-service-launch-date-price/[3] https://www.engadget.com/spotify-super-premium-service-price-release-date-092423874.html[4] https://www.digitaltrends.com/music/spotify-all-access-high-resolution-audio/
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