Spotify CEO says company is considering increasing subscription prices in 2023
Spotify may have already exceeded its revenue target for the year and increased its subscribers, but it’s possible the price will increase in 2023.
In conversation with the Wall Street JournalSpotify CEO Daniel Ek said raising prices in the US “is one of the things we want to do, and that’s what we’re going to do.” [consider] with our label partners. I feel good about this upcoming year and what it means to price our services. “
This increase comes after other streaming services – Apple and YouTube – announced price increases for their platforms. Apple is increasing the price from $1 to $10.99 per month. YouTube is raising the price of their Premium Family Plan from $17.99 to $22.99
EK also talked about the right competition for their company.
When our competitors are raising prices, it’s really good for us,” said founder and CEO Daniel Ek in a conference call following their latest financials. . He said that Spotify has the lowest disruption rate among its peers and offers “an excellent customer value proposition.”
Netflix price increase
As you know, Netflix also raised their prices in January.
In the US, the subscription price for the standard plan increased to $15.49, the basic plan went up to $9.99, and the premium plan is now $19.99. A Netflix spokesperson spoke about the latest price hikes.
“We understand that people have more entertainment options than ever before, and we are committed to providing a better experience for our members. We’re updating our prices so we can continue to offer a wide selection of quality entertainment. As always, we offer a wide range of packages so members can choose a price that suits their pocket,” they said.
Roomies, what do you think of this?