Switching to Spotify for Cheap Prices isn't a Good Idea Just Yet

Spotify appeared to be our only affordable option as it appeared that other music streaming providers had increased their pricing. Given that Spotify is also considering raising its prices, this situation might not last for very long. Daniel Ek, the CEO of Spotify, said that the company was thinking about raising the cost of its US memberships, saying that it was "one of the things we would like to do and it's something we would examine with our label partners." We don't yet know the specifics of this potential price increase; in the US, Spotify's solo plan presently costs $10 per month, while the Duo plan (for two users) costs $13 per month and the Family plan (for up to six individuals) costs $16 per month. It's not immediately obvious what's generating this price increase. Over the previous year, Spotify has seen growth, and in the most recent quarter, subscription expectations were exceeded. The increase, according to the CEO, would be in response to competing services upping their pricing. For example, Apple Music's individual plan for the Premium Family subscription to YouTube has increased to $11 per month. They might be more knowledgeable about potential pricing changes for Spotify in 2023.