- Kyle Chua
Spotify Raises Premium Duo Monthly Subscription Prices by S$2 in Singapore
Spotify is joining a growing list of streaming services raising subscription prices in a lot of markets across the globe.
The music streaming giant announced on its website on Monday that it would be bumping the price of Premium subscriptions in more than 50 countries, including Singapore. The price adjustment impacts over 200 million subscribers, who can expect to start paying more in the September billing cycle.
"The market landscape has continued to evolve since we launched. So that we can keep innovating, we are changing our Premium prices across a number of markets around the world. These updates will help us continue to deliver value to fans and artists on our platform," explained Spotify.
The popular service offers four Premium tiers in Singapore: Premium Individual, Premium Duo, Premium Family and Premium Student. The monthly price of Premium Individual is increasing to S$10.98 from S$9.99, while Premium Family is increasing to S$17.98 from S$16.98. Meanwhile, Premium Duo is increasing to S$14.98 from S$12.98 and Premium Student is increasing to S$5.98 from S$4.99.
Spotify said existing subscribers have a one-month grace period to make any changes to their accounts before the new prices become effective.
Some of Singapore's Premium subscribers, however, aren't too happy about the bump in price. "YouTube Premium it is," wrote one Reddit user, suggesting he'll be switching to the competition soon. "Guess it's time for me to cancel my Spotify plan," wrote another user, adding that the prices are "ridiculous".
Spotify offers a free tier for users who aren't willing to pay for a Premium subscription, but it comes with ad interruptions between songs. The majority of the service's users don't seem to mind as it was reported in April 2023 that ad-supported users now outnumber Premium subscribers. Out of Spotify's 515 million monthly active users, 210 million are paying subscribers and 317 million are on the free tier. More and more have also been switching to the free tier, with Spotify recording steady drops in the number of Premium subscribers since 2019. Premium subscribers now only account for about 40% of Spotify's active users from about 46% in Q1 2019.
Spotify announced that it would be bumping the price of Premium subscriptions in more than 50 countries, including Singapore.
The price adjustment impacts over 200 million subscribers, who can expect to start paying more in the September billing cycle.
For example, the monthly price of Premium Individual is increasing to S$10.98 from S$9.99, while Premium Family is increasing to S$17.98 from S$16.98.
It's unclear yet whether the aforementioned prices include goods and services tax (GST).