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Market
Spotify's market share change in the US streaming market by end of 2024
5
Resolution / Starting Odds
Increase • 33%
Decrease • 33%
No Change • 33%
Industry reports, market analysis firms
Story
Spotify Raises Premium Subscription Prices in US, Now $3 More Expensive Than Apple Music, Stock Rises 5%
Jun 3, 2024, 01:46 PM
Spotify has announced a price increase for its premium subscription plans in the United States, marking the second such hike within a year. Starting in July, the price for the Spotify 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, making it $3/mo more expensive than Apple Music. The Student plan will remain at $5.99 per month. This move comes as Spotify aims to boost its margins amid ongoing streaming inflation, following a previous hike in July 2023. Following the announcement, Spotify's stock saw a rise of approximately 5%.
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Similar markets
Increase by more than 2% • 25%
Increase by 0-2% • 25%
Remain the same • 25%
Decrease • 25%
Less than 25% • 25%
25% - 30% • 25%
30% - 35% • 25%
More than 35% • 25%
Spotify's share increases • 33%
Apple Music's share increases • 33%
No significant change • 34%
Spotify increases share • 25%
Apple Music increases share • 25%
Amazon Music increases share • 25%
Other services increase share • 25%
Launches new bundle • 25%
Discontinues current bundle • 25%
Maintains current bundle • 25%
Introduces significant service changes • 25%
Increase • 33%
Decrease • 33%
Stay the same • 34%