Spotify Increases Cost of Premium Subscriptions
Spotify is set to increase the cost of all its Premium plans, meaning that enjoying uninterrupted music will become more expensive. In the US, the price of a Premium Single subscription will rise from $10 to $11 per month, marking the first price hike since Spotify’s inception over ten years ago. The Premium Family and Student plans will also see a one-dollar increase, now priced at $17 and $6 per month respectively. The largest increase will be seen in the Premium Duo plan, which will go up by two dollars per month, from $13 to $15.
The move follows similar price hikes by competitors, with Apple Music, Amazon Music and YouTube Music all raising their ad-free individual plans to $11 over the past year. Last October, Spotify CEO Daniel Ek seemed to enjoy the increased costs of other companies: “When our competitors raise their prices, that’s really good for us.” At the time, Ek said he would like to charge more for subscriptions, especially in the US, and believed Spotify would be able to do so in 2023.
People keep flocking to Spotify, with the music streaming app reporting five million more users worldwide by the first quarter of 2023, and $12 a year increases may not make much of a difference. Updated prices are coming in different parts of the world, from the UK to Thailand. Spotify says it will contact users via email to let them know how much their bill will increase and when it will happen.
