Spotify may soon become more expensive

The executive’s statement could be an indication that the service’s pricing plans, which have been relatively consistent in the past, could be increased in the near future to keep up with rising expenses and dwindling revenues.

Elk previously remarked to Variety in October 2022 that the price rise “is one of the things we would like to do and it’s something we will [discuss] with our label partners.”

This is not the first time Spotify has considered cost-cutting measures. Spotify has previously cut content in order to save money.

In October 2022, the company discontinued 11 original podcasts, the majority of which were produced by the Gimlet and Parcast studios that it had bought as part of its aggressive expansion into the podcasting sector.

Spotify has spent billions of dollars on its podcast business, including a $200 million contract for the platform’s top performer, Joe Rogan.

Following a scandal involving the host, Joe Rogan, some of these had to be taken off the platform.

It is unclear how Spotify’s issues will affect future pricing, but subscription costs for popular music streaming services are routinely growing, so the future does not look promising at the present.

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