'How Much More Revenue Can They Bring?

Revenue Can They Bring?

The Ledger

is a weekly newsletter about the economics of the music business sent to Billboard Pro

An abbreviated

version of the newsletter is published online

Apple Music’s

recent subscription price increase and a likely forthcoming price hike by Spotify would provide

and global

music revenues and likewise impact catalog valuations

Higher prices

for Apple Music and Spotify’s individual plan could be worth hundreds of millions in

Incremental revenues

resulting from these price increases have the potential to reach roughly $650 million a year for

That assumes

7% growth in subscribers in 2023, no additional churn, a full year of higher prices and higher

However, a

small amount of churn is possible, and Spotify is unlikely to raise rates at the

Additionally, not

all subscription plans are subject to increase

(Apple is

not raising the price on Apple Music Voice, for example

CAA Elevate Graduates Promoted

into New Roles