“When our competitors are increasing their prices, that’s really good for us because, again, with our deep engagement that we have and the lowest churn of any competitor, we will likely fare better,” he added.ĭeparting a music streaming service is apparently more complicated. Similarly, Spotify CEO Daniel Ek noted that despite 46 price increases in markets globally, the results were “as good as we would have hoped for, if not better, in many of these places.” in October 2021, and to $10.99 in February in the U.S. and Germany in October and in Brazil in December.īut its rivals’ decisions “makes us more competitive,” its CEO Jeronimo Folgueira told investors last week, and “opens the door for further price increases down the line.”įolgueira isn’t fussed about price climbs: subscribers remain at 9.4 million in Q3 despite its Premium plan going from £9.99 (AU$17.99) to £11.99 ($21.49) in the U.K. ![]() YouTube Premium’s Family Plan climbed up by 28%, or by $5, to $22.99.įrance’s Deezer was already upping prices in the U.S. They gave two primary reasons for the churn, industry talk for cancellations: 40% because of the rising cost of a Netflix subscription, and 20% because of the rising costs of everyday items.Īpple Music’s global rise, attributed to “an increase in licensing costs,” saw an individual sub already go by $1 to $10.99 per month in the U.S., and the Family plan by $2 to $16.99. survey found that 25% of respondents plan to leave by the end of 2022. There has been speculation about what will be announced at the company’s Stream On event next month, when Spotify runs through its latest developments on tools, features and programming.After Netflix this year instituted its sixth rate hike in eight years, a U.S. ![]() Spotify does not yet offer HD or similar audio options despite announcing plans for Spotify HiFi two years ago. That feature may have helped to retain users following the price increases. One benefit to users of the other streaming services has been the introduction of immersive and spatial audio at no extra cost. The streaming giant will report on its financial performance on January 31. Īttention will now inevitably turn to Spotify, the market leader, and whether it will follow suit. While low prices have helped to deliver streaming penetration, the persistent lack of any price increase was a concern raised during the DCMS Committee streaming inquiry. The potential ARPU boost across multiple DSPs will be welcomed by the music industry. That has already delivered a significant year-on-year increase in ARPU (average revenue per user) - a subject covered in our interview with Deezer CEO Jeronimo Folgueira in the new edition of Music Week. The increase follows a similar move by Apple Music, while Deezer increased its premium price from £9.99 to £11.99 in October 2021. The increase will take effect on February 21.Īmazon continues to offer ad-funded streaming and services to Prime members, although the hope is that they encourage people into the premium offer. ![]() “To offer you our service in the usual quality, we're updating the prices of select Amazon Music Unlimited plans,” said the streaming service in an update. The increase of a standard subscription is in line with the UK inflation rate of 10.5%. The Amazon Music Unlimited Individual Plan is increasing from £9.99 to £10.99 per month, while the Unlimited Student Plan is also going up by £1 to £5.99 a month. Amazon Music has increased streaming subscription prices.
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