The popular music application, Spotify, announced that it is raising prices for its premium plans in several countries around the world, including Israel.
In the message sent to premium users of the application, it was written: "We are raising the price so that we can continue to invest in features, offer more innovations in our product, and provide you with the best user experience."
Back in April, the CEO of Spotify, Daniel Ek, was interviewed and stated that the company intends to raise prices in 2023. The manager mentioned that the company increased prices in 46 different countries last year, and they still managed to succeed despite the hike. "When the timing is right, we will raise it (the price), and this price increase will be well-received because we provide a lot of value to our customers."
Spotify is not the only one raising prices in the past year. Competitors like Apple Music and YouTube Music have also increased prices in their various premium plans.
The subscription prices on Spotify increased from 19.90 ILS to 21.90 ILS for an individual subscription, from 25.90 ILS to 29.90 ILS for a duo subscription, from 31.90 ILS to 35.90 ILS for a family subscription, and the student subscription price rose from 9.95 ILS to 11.90 ILS.