In recent weeks and months, a plethora of streaming services have announced price rises for monthly subscribers, with Spotify even following suit for the first time in their history. Now, unsurprisingly, Amazon Music has announced a price hike for its Prime members in the US for Amazon Music Unlimited.
Amazon Prime members will see their monthly fee for Music Unlimited rise from $8.99 to $9.99 on September 19th. Prime members who sign up for a new account will be charged the new higher price as of Tuesday (August 15).
For those paying on an annual basis, the price will rise from $89 per year to $99.
Despite largely negative reactions from users at these streaming wide rises, there has been support from within the music industry. Beggar Group, whose stable includes 4AD, Rough Trade and Matador among other big indie labels, has come out in support of the recent hikes in a recent report -“We believe that streaming subscriptions have been undervalued and are pleased that the lead set by certain DSPs in increasing prices is being matched by the rest of the market,” stated Beggars Group’s report.
Why Should YOU Care?
With industry wide price hikes hurting consumers, Amazon Music has finally followed suit. Though the streaming service’s users may not be overly pleased, what do these price hikes mean for artists?