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Subscription prices for streaming services have been on the rise recently, thanks in part due to the stringent economic conditions. Now, in line with these efforts, Amazon, for the second time this year, is raising the price of its Amazon Music Unlimited plans, affecting both Prime members and those on the family plan.
As first reported by The Hollywood Reporter, the company has quietly changed the familiar $9 monthly price tag for an individual plan to now $10, and for an annual commitment, it translates to about a shift from $89 to $99 per year. When talking about family plans, they will also cost a dollar more and rise from $16 to $17 per month or from $159 to $169 annually.
While new users will immediately be subject to these new rates, the company has granted existing users a grace period until September 19 before the revised prices take full effect. However, it remains uncertain whether Amazon intends to extend the benefits of these price hikes to the music creators who currently earn approximately $5000 per million streams.
The justification behind the price increase
Rebecca Silverstein, a spokesperson for the company, has confirmed these changes to The Verge and clarified that the price adjustment is motivated by a desire to enhance the quantity and quality of “content and features.” Although this explanation may seem underwhelming as the company isn’t introducing any groundbreaking features, it does reflect the ongoing industry trend of major streaming platforms raising their prices.
In a manner similar to Amazon, YouTube has also recently increased the cost of its Premium subscription from $12 to $14, mirroring price adjustments made by significant competitors such as Tidal, Apple Music, and Apple TV+. Furthermore, even Spotify, which has maintained a consistent subscription fee for years, recently elevated its subscription cost from $10 to $11.