Technology

IIE Digital Desk : Spotify, the world's leading audio streaming service, has announced that it will be increasing its Premium prices in India. The price increases will take effect on August 1, 2023.

The new prices for Spotify Premium are as follows:

Individual Plan: INR 199 per month (currently INR 149 per month)

Duo Plan: INR 299 per month (currently INR 249 per month)

Family Plan (6 members): INR 399 per month (currently INR 349 per month)

Spotify says that the price increase is necessary to "continue to invest in our product and services, and to bring more great music and podcasts to our users in India." The company also says that it will be offering a special discount to existing Premium subscribers who renew their subscription before August 1. These subscribers will be able to continue to pay the old price for their subscription.

The price increase has been met with mixed reactions from users. Some users have expressed their disappointment, while others have said that they are willing to pay the higher price for the continued access to Spotify's music and podcasts. Spotify is not the only streaming service that has increased its prices in recent months. In May, Netflix announced that it would be increasing its prices in the United States and Canada. And in June, Amazon Prime Video announced that it would be increasing its prices in India.

The price increases of streaming services are likely due to a number of factors, including the rising cost of content, the increasing competition in the streaming market, and the need for streaming services to generate more revenue in order to continue to invest in their businesses. It remains to be seen how Spotify's price increase will impact its user base in India. However, the company is confident that the increase will be "well-received by our users."