Music | Spotify is raising prices again in the US, last time Finland followed suit

The music Spotify, which dominates the streaming market, is at it again announced that he would raise their subscription prices in the United States. The last price increase was less than a year ago in July 2023, and soon after that the prices of the service also increased in Finland and many other European countries.

The reason behind the increase is Spotify’s need to improve the company’s profitability. The company has also cut its marketing expenses, and at the end of last year it announced that it would lay off 17 percent of its employees.

Spotify is the market leader in music streaming services, and its market share in the whole world is more than 35 percent. In Finland, it is by far the most popular with a market share of around 90 percent.

Finns also pay more for Spotify than customers in most other countries: 11.99 euros per month. Android Authority – website’s recent price comparison, Spotify’s monthly fee is more expensive only in Great Britain, Switzerland and Denmark.

Users in Spotify’s home country of Sweden pay about one and a half euros less than in Finland, according to current prices.

News the most recent price increases came just under a week after Spotify’s CEO Daniel Ek commented in Xthat “the costs of producing content are close to zero”.

The comment angered music makers around the world. During almost its entire existence, Spotify has received criticism from artists for music usage fees that are considered too small.

Ek later apologized for the “clumsy definition of content” he had used and assured that he had not wanted to underestimate the time, effort and resources spent on creative work.