Spotify – the Swedish audio streaming platform – announced a price hike for all its premium plans in the US. With this move, the company aims to “bring users the best experience”, it said. Spotify Premium subscribers in the US will soon receive an email with information regarding the hike in prices and what will happen to their existing subscription plan. The same email will also include instructions on how to cancel Spotify Premium subscription, for those who do not wish to remain subscribed.
In a blog post, Spotify announced that new users will now be able to subscribe to the Individual plan at $11.99 a month, up from $10.99. On the other hand, the Duo plan sees a $2 price hike and is now priced at $16.99. The Spotify Premium Family plan, which was previously listed for $16.99, will now cost $19.99.
However, the Student plan sees no change in pricing and will still be available at $5.99 a month, the audio streaming platform said on Monday.
This marks the second time in 12 months that Spotify has increased its price. The first hike was made in July 2023 for all Premium plans, including a $1 increase for the Individual plan.
Explaining the increase in subscription prices, Spotify said, “On Spotify, users discover and enjoy music, podcasts, and audiobooks. So that we can continue to invest in and innovate on our product features and bring users the best experience, we occasionally update our prices. Over the next month, subscribers in the U.S. will receive an email explaining what this update means for their subscription”.
For those currently enrolled in the Spotify Premium trial offer, the company announced that it will initially offer a one month plan with existing prices, following which it will be revised, in accordance with the hike.
This price hike puts Spotify Premium above Apple Music in terms of pricing. The Apple Music Student plan costs similar to the one offered by Spotify and is priced at $5.99 a month. However, the Individual plan is now priced at a $1 less, at $10.99 a month.
The biggest gap is with the Family plan which costs $16.99, $3 less than Spotify Premium’s family plan. In addition to these, Apple Music also offers a cheaper $4.99 Voice plan that enables the user to access Apple Music’s library via Siri.
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