In an email sent to users on July 17, the video streaming service Peacock announced that its monthly premium plan would increase from $4.99 to $5.99 per month. While the price increase for each tier is only an additional dollar, it reflects a trend happening around different entertainment options. Spotify includes several additional payment options including a free tier supported by ads, a monthly individual plan for $10.99, a monthly duo plan for $14.99, and a monthly family plan for $16.99. The service stated that more than 200 million premium subscribers in 53 different countries will be affected by the price increase. The price increase “will help us continue to deliver value to fans and artists on our platform,” according to Spotify. On July 24, Spotify announced it will be raising the price of its student payment plan from $4.99 to $5.99 a month.Īccording to the announcement, the market for music streaming has evolved since its initial launch. Some students are considering eliminating their subscriptions. Student entertainment platforms are increasing prices this summer.
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