Spotify raises prices in France due to streaming tax

(CercleFinance.com) - Spotify announced on Thursday that it would soon be raising the price of its subscriptions in France due to the introduction of the so-called 'CNM' tax on music streaming.


In a press release, the Swedish group explains that it will have to increase the prices of its premium subscriptions in France to compensate for these new costs.

We did everything we could to avoid having to do this, but unfortunately the French government decided otherwise", it declares, explaining that it fears that this tax will not go directly to artists.

The 'CNM' tax - named after the Centre national de la musique - is supposed to provide a permanent solution to the financing of this public institution, whose mission is to support music professionals via the taxation of online music distribution platforms, such as Spotify or Deezer.

While Spotify will not reveal the new prices paid by its French users, the company does specify that they will now pay the highest flat rate within the European Union.

Spotify plans to get back to its French subscribers in the coming weeks to provide full details of this increase.

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