For the first time since 2011, Spotify confirms a price hike for about 200m ad-free subscribers.
Spotify is raising prices for its 200 million ad-free subscribers for the first time in over a decade, the platform has announced.Similar price hikes also apply to the UK, Canada, Australia and 49 other territories."So that we can keep innovating, we are changing our Premium prices across a number of markets around the world," the music streaming service said on Monday.In the US, the Premium Duo plan will increase from $12.99 to $14.99, the Family plan will increase from $15.99 to $16.
The company raised prices of US family plans and UK Student, Duo, and Family plans in 2021. Individual subscriptions were previously unaffected.The new Spotify Premium cost matches the monthly plans of competitors Apple Music and Amazon Music. In an April earnings call, Swedish CEO Daniel Ek said the company would "like to raise prices in 2023".
"When the timing is right, we will raise it and that price increase will go down well because we're delivering a lot of value for our customers," Mr Ek said.
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