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Market
Market share comparison between Spotify and Apple Music by end of 2024
5
Resolution / Starting Odds
Spotify's share increases • 33%
Apple Music's share increases • 33%
No significant change • 34%
Market research reports (e.g., Nielsen, Statista)
Story
Spotify Raises Premium Subscription Prices in US for Second Time in a Year Starting in July
Jun 3, 2024, 04:10 PM
Spotify has announced a price increase for its premium subscription plans in the United States, marking the second hike in less than a year. Starting in July, the Premium Individual plan will rise from $10.99 to $11.99 per month, the Duo plan will increase from $14.99 to $16.99, and the Family plan will go up from $16.99 to $19.99. Despite the price adjustments, the Student plan will remain at $5.99 per month. The company aims to boost its margins with these changes. Spotify's shares rose by about 5% following the announcement, indicating investor confidence in the move. This price hike comes as Spotify continues to be one of the leading streaming services with a low monthly churn rate of around 2%, similar to Netflix. The new pricing makes Spotify's Family plan $3 more expensive than Apple Music's equivalent plan.
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Similar markets
Increase by more than 2% • 25%
Increase by 0-2% • 25%
Remain the same • 25%
Decrease • 25%
Increase • 33%
Decrease • 33%
No Change • 33%
Less than 25% • 25%
25% - 30% • 25%
30% - 35% • 25%
More than 35% • 25%
Spotify increases share • 25%
Apple Music increases share • 25%
Amazon Music increases share • 25%
Other services increase share • 25%
Increase • 33%
Decrease • 33%
Stay the same • 34%
Above Expectations • 33%
Below Expectations • 33%
Meets Expectations • 33%
More than 20% increase • 33%
10-20% increase • 33%
Less than 10% increase • 34%