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Spotify have finally increased the cost of their music-streaming service for the first time in their history. Amid mounting pressure from the record label industry, the price in the United States has increased by $1 a month, up from $9.99 to $10.99.
Earlier on this year, Spotify CEO Daniel Ek was forced to clarify how the company deals with paying artists who are streamed through the service. Over the last couple of years, there has been a surmounting narrative that the company aren’t paying the artists enough, to which the the CEO emphasised that it is in fact record labels who are responsible for these payments.
It seems as though the record companies are themselves fearful of AI-generated music, with the Universal Music Group CEO suggesting that it poses a great risk to the industry, in the UK especially.
Months ago, an AI generated song seemingly collaborating Drake and Ice Spice was pulled from streaming services, with Drake responding himself with a warning: “This is the final straw AI.”
Since then, there’s been an explosion of AI-generated music on online platforms, with artists, streaming services, and record labels all worried about how this will affect their industries. Spotify are perhaps feeling this effect, despite stock and user-base on a consistent trajectory upwards.
Recent updates, including and AI DJ and UI overhauls have turned the userbase against the platform with many users looking to alternatives such as Apple Music instead, and the price increase might just be the final straw. Despite now costing the same as its biggest competitor, the community has emphasised that the only advantage Spotify had over Apple’s music streaming service was the slightly cheaper price. Now, without that, there’s no reason not to go for the platform with better features.
Whether or not people are actually going to be willing to make the switch is a different question. I, for one, am not prepared to migrate over a hundred playlists and tens of thousands of songs to another platform.
