Spotify recently reported record profits, but at what cost? After raising prices, cutting payouts to artists, and laying off a significant number of employees,

Spotify recently reported record profits, but at what cost? After raising prices, cutting payouts to artists, and laying off a significant number of employees, Spotify managed to post a $499M profit. It just doesn’t sit right with me when a company thriving financially decides to cut jobs and squeeze artists even further. The only thing that’s kept me on Spotify is the family plan—I didn’t want the hassle of setting things up again for my elderly parents. But the prices have shot up fast. Here’s a comparison of current family plans: * Spotify: $19.99 (for 6 people) * Pandora: $17.99 (for 6 people) * Apple Music: $16.99 (for 5 people) I remember when I first signed up, the Spotify family plan was just $12.99. Hard to believe how much it’s increased in just a few years. Recent News * Spotify Rakes in $499M Profit After Lowering Artist Royalties Using Bundling Strategy | Headphonesty || https://www.headphonesty.com/2024/11/spotify-reports-499m-operating-profit/ https://www.headphonesty.com/2024/11/spotify-reports-499m-op... * Spotify to lay off 17% of employees — read the full memo CEO Daniel Ek sent to staff members || https://www.nbcnews.com/tech/tech-news/spotify-lay-17-employees-read-full-memo-ceo-daniel-ek-sent-staff-rcna127868 https://www.nbcnews.com/tech/tech-news/spotify-lay-17-employ...