Spotify is in the midst of experimenting with substantially raising its Family Plan price in one Northern European region…
Spotify currently sits atop the music streaming industry. It’s managed to retain its title as other services have raised their prices in recent months. Although Spotify hasn’t joined in with the price hikes, but its average revenue per user is starting to dwindle.
Spotify Testing Family Plan Price Increase in Scandinavia
Right now, Spotify benefits from its super large user base. However, one of its plans is growing in popularity — the Family Plan. So, the company is testing a price increase in Scandinavia, according to Bloomberg.
This test might or might not make its way out of the region. But, while it lasts, it will at least help to placate record labels, which have suffered due to a number of factors.
What’s more, it’s the only real avenue Spotify can take to increase its bottom line. Competitors such as Google, Apple, and Amazon have multiple streams of revenue but Spotify only has one.