I switched to Tidal after Spotify announced the price increase. The catalogue is basically identical, the apps are much more intuitive, and the audio quality is higher (they recently rolled their premium FLAC subscription into the basic one).

I had to retrain the algorithm for a bit, but that was not so difficult. There are services that can migrate/convert playlists which might actually work for favourites as well.

Also, it’s easy easier to download stuff from Tidal, which is very nice for listening to Audiobooks with a dedicated player.