And so it begins. Spotify is testing a more expensive version of its streaming music service in Scandinavia, according to Bloomberg.
If the Stockholm-based company decides to charge customers more there, it could mean higher prices around the world. In the U.S, that would mean that the cost of its family plan, which costs around $15 per month, could go up as high as $17, according to the article.
Spotify is renowned for its ability to convert free users to paying subscribers. And while it is the leading music streaming service globally, with 108 million paying subscribers, it isn’t profitable and is increasingly competing with the likes of Apple and Amazon.
Spotify has some leeway to raise the price a bit and continue to grow and retain subscribers as long as it continues to invest in new types of content such as podcasts, and keeps improving its recommendations and user interface.