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Spotify, a Swedish digital music service provider, is set to raise its subscription prices in France. This comes after the French government imposed a new music streaming tax, which was reported to support the country's music business.
In any case, the price increase will be applied to Spotify's premium subscribers in the region. Spotify said it has no choice but to raise the rates, as per Gagadget.com.
Mandatory French Tax
Subscriptions to Spotify's music streaming services will be more expensive now, and as the prices go up for French users, the country will have the highest rates in Europe. The company is blaming the CNM tax for its impending price adjustments.
This is a mandatory levy on music services that earn profits of more than €20 million. It was reported that aside from Spotify, its rivals, Apple Music and Deezer, were also displeased by the officials' decision to add new taxes.
Spotify Explains the Price Increase for Its Service
Spotify said the company could not absorb any other taxes. Even after deciding to lower the budget for artist marketing and support for music festivals in France, the company said it still could not afford additional taxes. Thus, in the end, management must adjust its price plan for French subscribers.
"Spotify Premium subscribers in France will soon experience a price increase due to additional costs on music streaming services imposed by the government, as part of the 'CNM Tax,' Spotify wrote in its announcement for the price hike. "While Spotify worked very hard to encourage the government to avoid adding this tax, unfortunately, they decided to move forward. To put it bluntly, all French users will see their subscription plan fee increase.
The music streaming giant added, "French users will now pay the highest subscriptions across the European Union. Spotify is increasing prices in France in order to offset these new costs. We'll come back to our French subscribers over the coming weeks with the full details on the upcoming price increase."
Photo by: Alexander Shatov/Unsplash
