Despite Spotify's success in gaining subscribers, the company is considering raising its prices, according to Deadline.
See also: Spotify now sells audiobooks
The company's CEO, Daniel Ek, said that this idea for a price increase was inspired by Apple and YouTube Music. Both services had recently raised their prices - but, to be honest, a price increase is not the most ideal source of inspiration.
YouTube Music recently raised the monthly price of its family plan from $17.99 to $22.99. Apple raised the price for individual plan to $10.99/month and its family plan to $16.99/month, as well as for its Apple One plan, which is now $16.95/month.
Ek said that raising prices in the US is something they would like to do. He went on to say that he feels good about the upcoming year and the new pricing for the service.
See also: Spotify: Premium subscribers get separate play and shuffle buttons
Apparently, he's the only one who's happy, as Spotify users aren't going to be happy because they'll be paying more money per month for the same service.
Spotify had a good year, growing its monthly active users to 456 million and increasing its revenue by 21%. However, after the announcement of results , Spotify's share price fell by 5%.
See also: Spotify: How to restore deleted playlists?
While we're not sure how much or when, we do know that Spotify prices will increase in the US. This is due to price increases in other countries around the world.
Information source: androidheadlines.com
