Who said inflation was moderating? Spotify on Monday announced its second price increase in less than a year: The two price rises together total between 20% and 30%, depending on the tier. Jacking up prices so much in such a short period of time is a gutsy move by CEO Daniel Ek, whose company has long struggled to make any real money, due to its need to pass on most of its revenue to the music companies that own the rights to the songs it streams. If Spotify pulls this off without a surge in cancellations, then can we put to rest the idea that it is somehow at a disadvantage to Apple (its main rival in streaming and the controller of a major digital platform)?. After all, Apple Music is now indisputably cheaper than Spotify.
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