We’re not sure we saw the day coming where music streaming platforms offered family plans much like cell phone companies, but saving is always a good financial plan. Jay Z’s Tidal joined the ranks of its competitors, adding a family plan to the Premium and HiFi subscription tiers.
While Tidal may be catching up with other platforms, its price is more expansive than the likes of Apple Music. Tidal is asking its users to pay for each new account added under the primary user, while Apple Music charges a flat rate. Apple’s flat rate plan is also cheaper than Spotify and Rdio, whose family plans look much like Tidal’s. However, Spotify has plans on lowering it’s prices due to Apple’s undercutting.
If you are a Tidal Premium account holder adding members to your account would cost $4.99 per person in addition to the original $9.99 fee. If you’ve decided you want all Tidal has to offer and are a Tidal High Fidelity user the price get even more expensive – starting at $19.99 for the main fee and $9.99 per additional person. Tidal’s High Fidelity option is one most competitors do not offer at all, but for the high pricing it may be best. Are consumers ready to pay $60 for music streaming? This is the number a High Fidelity user would be looking at if they added the maximum amount of family members – four.
Apple may be giving every platform a run for its money with their straightforward pricing of $15 per month family plan and ability to add up to six members. Tidal and Spotify sit in the same pricing boat, but with Spotify’s plan to lower prices it seems as though Tidal will be sitting in the water alone.
While Tidal’s family plans may not bring in a great revenue splash, what Tidal does do well is exclusives – we’ll see if this is enough.
How much are you willing to pay per month for music streaming? Have you joined the Tidal waves?