On Monday, music streaming service Spotify made several upgrades to their seldom discussed Family Plan. Before today, primary account holders could pay an additional $4.99 per secondary account for up to four family members after securing their regular $10 a month subscription. Now, by paying a flat monthly rate of $14.99, users can add up to six additional family members with no added cost.
Before today, primary account holders could pay an additional $4.99 per secondary account for up to four family members after securing their regular $10 a month subscription. Now, by paying a flat monthly rate of $14.99, users can add up to six additional family members with no added cost.
Those who use the new and improved Family Plan will receive one bill a month, as opposed to the more complicated payment systems from before. For account holders that previously had Spotify subscriptions, saved playlists and other data will carry over after switching to the new system.
In other news, The Wall Street Journal recently reported on the Spotify’s 2015 fiscal year, revealing some not so surprising truths about the company’s standing in the marketplace. According to the information, Spotify’s net losses (€173.1 million) slightly increased last year due to higher royalty payments despite nearly doubling their overall revenue (€1.95 billion ). Both advertising and paid subscription revenues increased during 2015.
“We face competition from players with substantial resources at their disposal. The group intends to continue making significant investments in developing new products.” Spotify directors Martin Lorentzon and Par-Jorgen Parson
In a filing issued on Monday, the service claims that it will be seeing “substantial revenues” as their international reach broadens.