If, like millions of people around the world, you have a Spotify Premium subscription, you should know that it may increase in the future. This is in any case what seems to indicate a survey, spotted by the site iGen, that Spotify launched among its paying subscribers. With, the key, a radical change for the whole industry.
The Spotify Premium subscription for a person over 10 euros?
The streaming platforms are in a phase of seeking profitability or increasing profits: on the video side, if Netflix remains below 10 euros for a simple subscription but without HD, Disney + has already announced an increase of 2 euros for February 2021 which would increase the subscription, which is in single formula, to 8.99 euros per month.
But on the music streaming side, prices seem more complicated to increase. The subscription remains at 9.99 euros per month for one person, regardless of the platform. Spotify could break this ceiling, if we are to believe the survey spotted by iGen. The site, which has 144 million paying subscribers out of 322 million users, asked for users’ opinions on new formulas, including a Premium Personal subscription at 10.99 euros.
A rise to come to be profitable?
According to information from iGen, another subscription could increase: the Premium Family subscription which could go from 14.99 euros per month to 17.99 euros per month … or even 20.99 euros per month, both questions being asked by the platform. As a reminder, this subscription allows the use of 6 accounts simultaneously: at 20.99 euros per month, the increase would therefore be one euro per account… ie the same as that of the Personal account.
We will have to wait before knowing if Spotify will actually increase its prices, but the platform seems to need it: profitability is not there. In 2019, Spotify lost 116 million euros and is under increasing pressure from artists regarding their remuneration, considered too low. By increasing its subscription by one euro per month, Spotify would rake in 144 million euros per month more, or 1.728 billion euros per year (assuming all 144 million paying subscribers accept the increase) . Enough to allow him to wipe his losses and better remunerate artists to prevent them from leaving his services.