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Spotify raises prices for more than 88 million users – here’s how much more US customers are paying each month
Spotify users would have to pay up to $2 more for their monthly subscriptions.
The music streaming service announced the changes on Monday the Premium Single now starts at $10.99 (£10.99), the Duo at $14.99 (£14.99), the Family at $16.99 (£17.99), and the Student Plan at $5.99 (£5.99).
Existing Subscribers to the Spotify Premium subscription will be notified via email and given a grace period of one month before the new price takes effect, unless they cancel before the grace period expires.
Those currently on a trial offer will have one month at the original price after the trial ends, but will pay the increased fee after that.
Existing Spotify Premium subscription subscribers will be notified via email and given a one-month grace period before the new price takes effect – unless they cancel before the grace period expires
“The market landscape has continued to evolve since we launched,” Spotify shared in the announcement.
“In order to continue to innovate, we are changing our Premium pricing in a number of markets around the world.
“These updates will help us continue to deliver value to fans and artists on our platform.”
The price increases come at a time when audio and video streaming services are under increasing pressure from investors to increase profitability after years of prioritizing user growth.
Rival services from Apple and Amazon.com and Tidal have all raised their prices this year, while YouTube also raised prices for its monthly and annual premium plans in the US last week for the first time since the subscription service launched in 2018.
Spotify, which had indicated in April that it would raise prices in 2023, had also raised prices in 46 countries last year.
The music streaming service announced the changes Monday, noting that the Premium Single now starts at $10.99, the Duo at $14.99, the Family at $16.99 and the Student plan at $5.99
Similar price increases are taking place internationally.
In the UK, an individual subscription now costs £10.99, Duo costs £14.99, Family costs £17.99 and the price of a student subscription remains the same at £5.99.
Other countries opting for the price increase include Australia, Costa Rica, Hong Kong, Mexico and Kosovo.
Apple increased the price of its UK and US music subscriptions by $1 in 2022.
A monthly individual subscription to Apple Music costs $10.99 (£10.99) up from the previous price of $9.99 (£9.99).
Amazon’s Music Unlimited also increased by $1 in February 2023, from $9.99 (£9.99) to $10.99 (£10.99).