Spotify is considering raising the price of a family package by 13% in Scandinavia. The Swedish company has not officially confirmed the plans, but close sources have confirmed before Bloomberg The goal is to raise the price without offering anything new in return. The company wants to see if consumers are willing to pay more for services.
The plan can only reach increases for European customers where Spotify is the dominant music streaming service. In the US, for example, competition with rivals Apple Music, YouTube Music, Pandora or Amazon Music is stronger, so prices must remain stable there. Spotify is known for running a number of tests, some of which are very fast and no longer exist, others that are still running.
Spotify's streaming service has received criticism from publishers and artists for its lack of revenue, although it has the largest number of subscribers worldwide. Whether Apple and Google can keep the business low or even profitable, something Spotify has been suggesting for years, but is proving to be a risky long-term strategy, is unknown.