The trend of music streamers increasing their rates continues. Next up: Spotify?
Following similar moves by Apple, Amazon and other competitors, Block-owned music streaming service Tidal has begun messaging users about raising its prices in the United States and other markets. Starting Aug. 1, the price of a basic HiFi subscription in the U.S. will increase by a dollar to $10.99, while family plan-ers will see their monthly tab go up two dollars to $16.99.
A Tidal spokesperson did not respond to questions regarding the scope of the price increases — the company says it is currently available in over 60 countries, and prices vary from region to region. So far, the increases appear to be far-reaching, if not officially across the board — in a Tidal-focused forum on Reddit, users from Germany, Spain, the Netherlands, Hungary, Mexico and Argentina said they received new pricing notices.
Subscription revenue in the U.S. took a dip in 2022, to 7.2% growth from 22.2% in 2021, according to the RIAA. With subscriptions now accounting for 58% of all U.S. recorded music revenue, overall revenue growth slowed to 6.1% from 23.2% the prior year. Revenue totals for this year, however, should get a boost from price hikes in the last 12 months by Apple Music and Amazon Music, as well as Deezer.
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