The price of music streaming has stayed flat for a decade, but not because tech companies are generous.
Of the litany of things you can buy for $10 — a sandwich, a box of pens, and a print magazine among them — unlimited access to a catalog of 50 million songs is one of the most bang-for-your-buck options out there. But that’s how much music-streaming subscriptions have cost their entire existence.
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Just a few short years ago, the music industry was contemplating its very existence. But is it time to get over the music industry comeback celebration?
The coming year may be when that finally changes, for a number of reasons. First, Spotify, the leader of the music-streaming market, recently entered its second decade of existence towing 250 million users, 110 million of whom are paying subscribers; when tech companies hit such major growth milestones, they tend to hike up prices to begin recouping previous years’ lost revenue, which is why Uber rides, Seamless deliveries, ClassPass sessions, and the products of other startups-turned-behemoths are more expensive now than they were at the start.