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Spotify increases prices for Premium Plans

Spotify

Get ready to experience your favorite songs on Spotify without interruptions but at a slightly higher cost. The music streaming giant has recently announced an increase in the prices of all its Premium plans. In the United States, the Premium Single subscription will see a monthly rise from $10 to $11, marking the first price adjustment since Spotify’s inception over a decade ago.

Additionally, the Premium Family and Student plans will also undergo a one-dollar increase, now priced at $17 and $6 per month, respectively. Premium Duo will see the most significant bump, rising by two dollars per month from $13 to $15.

This price adjustment is in line with similar moves made by competitors, such as Apple Music, Amazon Music, and YouTube Music, all of which raised their ad-free individual plan prices to $11 within the past year.

Back in October, Spotify’s CEO, Daniel Ek, seemed pleased with other companies’ price increases, expressing that it would be advantageous for Spotify. He even mentioned the possibility of charging higher subscription fees, particularly in the US, and confidently predicted that Spotify would be able to do so in 2023.

Despite the price hikes, Spotify continues to attract more users, with an additional five million reported during the first quarter of 2023 worldwide. The $12 yearly increase may not significantly impact its user base.

The updated prices are being rolled out in various countries worldwide, from the United Kingdom to Thailand. The company has assured users that they will receive emails notifying them of the upcoming price adjustments and when they will take effect.

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