Spotify continues to view price adjustments as a natural part of its business strategy. In an interview with Financial Times, the company's deputy CEO Alex Norström explained that price hikes are now considered a key tool in Spotify's "toolbox" as the platform develops and expands. The statement comes only a few months after the latest increase in early August, when several subscription tiers became more expensive for both new and existing users.
"Price increases and price adjustments and so on, that's part of our business toolbox and we'll do it when it makes sense," Norström said.
For a long time, Spotify kept its Premium prices steady. In fact, the service cost the same from its launch up until four years ago, when the first increase was introduced. Since then, however, hikes have become more frequent, something every subscriber has noticed. The question now isn't if, but when, the next one will come. Norström didn't reveal exact details regarding timing or levels but hinted that future increases could happen on a rolling basis.
Meanwhile, speculation continues about whether Spotify is preparing an even more expensive subscription tier with lossless audio included. The long-rumoured HiFi plan has yet to materialise, despite years of chatter. For now, competitors such as Apple Music already offer lossless playback.
Do you care about lossless sound, and what do you think of Spotify's current pricing?