Let’s discuss Spotify Nigeria as the tech company shows up on our radar and it’s being added to the Techbooky’s short list of African digital streaming companies to hike the pricing value of its premium subscription plan by 40%.
According to the information provided on Spotify’s official website, the current Premium Individual plan costs N 1,300 per month which depicts a significant price increase and aims to add value to the premium audio streaming services.
Spotify’s price increase for Nigerian Premium subscribers isn’t explicitly stated as a 40% hike which depicts that the price increase in the country shows that Nigeria hugely impacts the audio streaming service provider’s revenue purse.
For context, Spotify Nigeria joins the list of other markets the audio streaming provider operates in that have also experienced hiked premium prices for individuals, including the UK, Algeria, South Africa, India, Canada, Japan, Germany, France, and Nigeria.
Spotify has reportedly impacted the Nigerian digital streaming landscape which also intertwined progressively per the popularity the audio streaming company gained to promote its brand.
However, the new pricing sees a 40% hike, impacting millions of users in the country because Spotify’s announcement carried a significant order that enacts it new pricing policy with immediate effect.
In Africa, MultiChoice has reportedly frontline the race to hiking the pricing of its streaming services via its flagship pay-TV network DStb and the subscription price hike was exclusive to the Kenyan viewers. Recall, that Techbooky covered the DStv price update that got Kenyans anticipating November 1st as the specified date for the pricing transition to be effective.
Just as MultiChoice is yet to disclose to the Kenyan market the exact reason that influenced its flagship pay-TV streaming services. Spotify has also purportedly touched down in Nigeria to play similar cards as MultiChoice did via DStv by observing a significant price increase in its audio streaming services in Nigeria.
Spotify’s pricing varies greatly across different countries. In some places, you can get a premium subscription for as low as $1.51 a month, like in Argentina, while in others, it can cost upwards of $15.84, like in Denmark.
It’s worth noting that Spotify hasn’t explicitly stated the reasons for the price increase in Nigeria just like MultiChoice also left the Kenyan viewers in the dark without proper explanation for tweaking its pricing multiple times in a year.
However, the company has been adjusting its pricing globally to keep up with rising operational costs, licensing fees, and global inflation which is the main concern for hiking prices.
The impact on Spotify’s subscribers due to the newly tweaked audio content streaming pricing that’s exclusively for individual premium subscribers, as well as other in-app cohort premium pricing that sum up the 40% price hike, may affect Nigerian audio streamers purchasing power and potentially lead to subscription cancellations per minimal interest to continue premium streaming in the country.
While some in Nigeria are likely to suspend listening to premium music others are also expected to downgrade their preferred premium plan to a lower-tier subscription.
It is worth noting that Spotify’s streamer base in Nigeria should anticipate a significant change in response to the hike in premium pricing that will impact a fraction of its Nigerian streamers with an increased interest in seeking alternative audio streaming platforms with affordable pricing.
Techbooky suggests Nigerian streamers can explore other music streaming platforms, such as Apple Music, Google Play Music, Deezer, Tidal, etc. This will aid active audio streamers with the opportunity to weigh their options and adjust their subscriptions accordingly.
As for features, Spotify’s premium plans generally offer ad-free listening, offline downloads, and high-quality audio. However, some countries may have additional features or restrictions that depict another topic for discussion.
Spotify’s price increase in Nigeria reflects the evolving music streaming landscape. While the hike may be unwelcome, Spotify remains a popular choice for music enthusiasts. Users can weigh their options and adjust their subscriptions accordingly.
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