Tidal set to raise subscription prices from 1 August

Tidal’s HiFi plan in the US will increase by $1, reaching $11 per month. Its Family Plan will see a $2 increase, bringing it to $17 per month. However, the HiFi Plus service, priced at $20 a month, will remain unaffected by the price adjustments.

Earlier this year, both Apple Music and Amazon Music increased their standard individual subscription from $9.99 to $10.99 in the US and from £9.99 to £10.99 in the UK.

Deezer also raised its prices, with the Premium subscription now costing £11.99 per month in the UK, €10.99 per month in Germany and $10.99 per month in the US.

Market leader Spotify, which boasts 210 million paying subscribers worldwide, has yet to announce price increases. However, multiple reports suggest that it is preparing a higher-priced subscription tier called Supremium, speculated to be initially launched in non-US markets.

Former Twitter CEO Jack Dorsey’s Block acquired a majority stake in Tidal almost $300m last year. Despite facing financial challenges under Jay-Z’s previous ownership, which resulted in his personal investment of $50m, the company announced a profit of $11m from Tidal-related revenues totalling $55.7m in its Q4 statement of 2022.

Earlier this week, Tidal CEO Jesse Dorogusker confirmed the introduction of hi-res FLAC streams to the platform’s catalogue. Currently, more than 6 million tracks can be streamed in hi-res FLAC by select users.