Spotify announced plans to increase the U.S. subscription prices for its Premium Individual, Premium Duo, Premium Family and Student plan services.
The company announced in a news release that, “the market landscape has continued to evolve since we launched. So that we can keep innovating, we are changing our Premium prices across a number of markets* around the world.”
How much did Spotify increase its prices?
Spotify’s various subscription services were previously priced in the U.S. at:
- Premium Individual: $9.99.
- Premium Duo: $12.99.
- Premium Family: $15.99.
- Premium Student: $4.99.
The U.S. subscription prices have increased to:
- Premium Individual: $10.99.
- Premium Duo: $14.99.
- Premium Family: $16.99.
- Premium Student: $5.99.
CNBC reported that the subscription service will be increasing prices “across several other countries, including Canada, France, the U.K., Mexico and Australia.”
Is Spotify or Apple Music cheaper?
USA Today reported that Apple Music had raised its prices in late 2022, which lands its current costs as:
- Individual: $10.99.
- Family: $16.99.
- Annual: $109.
YouTube Music Premium had also reportedly increased its subscription prices to $10.99.
Why did Spotify increase prices?
“As we continue to grow our platform, we are updating our Premium prices so that we can keep innovating in changing market conditions,” the company said on its website.
The Guardian reported that “the music-streaming company looks to boost profitability in an uncertain economy.”
Prior to the the increase in premium plan costs, Spotify had been making cuts to its workforce and restructuring the music and podcasts it offers, according to the New York Post.
The Deseret News reported that as Spotify has been making cuts, Prince Harry and Meghan Markle’s “multimillion-dollar Spotify partnership was ended prematurely.”
Spotify announced Monday that, “starting from today, existing subscribers in these markets will receive an email explaining what this means for their account.”