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Spotify is making headlines for all of the flawed causes recently. In November 2023, Spotify introduced that they wouldn’t be paying royalties for any song that didn’t get at least 1,000 streams yearly, successfully getting free labor from some artists. Then in December the corporate laid off 17% of its staff, and final week CEO Daniel Ek made some incredibly terrible comments about “the price of creating content material being near zero.”
Now, regardless of terrible (or no) royalty checks to artists, Spotify has raised its subscription costs. The Spotify Premium Particular person plan goes up from $10.99 month-to-month to $11.99, the Premium Duo plan from $14.99 to $16.99, and the Premium Household plan from $16.99 to $19.99. Remember that that is the second value hike in beneath one 12 months, as Spotify jacked costs up in July 2023.
So why the worth hike? Based on a press release on the corporate’s web site, it is “we are able to proceed to put money into and innovate on our product options and convey customers the most effective expertise, we sometimes replace our costs.” So all the company nothingspeak you’d anticipate when justifying a value hike. I suppose we’ll see if this interprets to artists really getting reduce a barely larger chunk of the underside line.
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