Spotify has joined the list of streaming services that have increased the prices of their services. The popular music streaming service has announced price increases across the board for its various Spotify Premium plans.
In a blog post, the company announced that in the US, the price of Spotify Premium is going up from $9.99 to $10.99 a month. The Spotify Premium Duo plan price will be going up the most, from $12.99 to $14.99 a month. The price of the Spotify Premium Family Plan will go up from $15.99 to $16.99 a month. Finally, the discounted Spotify Student plan is going up from $4.99 to $5.99 a month.
This is the first time that Spotify has increased the prices of its Premium plans since it first launched 15 years ago in 2008. It currently has over 200 million customers who have signed up for these plans. The company added:
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. These updates will help us continue to deliver value to fans and artists on our platform.
Besides the US, prices for Spotify Premium plans are going up in the following territories:
- Andorra
- Albania
- Argentina
- Austria
- Australia
- Bosnia and Herzegovina
- Belgium
- Bulgaria
- Brazil
- Canada
- Chile
- Colombia
- Costa Rica
- Cyprus
- Denmark
- Ecuador
- Estonia
- Spain
- Finland
- France
- United Kingdom
- Greece
- Guatemala
- Hong Kong
- Croatia
- Indonesia
- Ireland
- Israel
- Iceland
- Italy
- Lithuania
- Luxembourg
- Latvia
- Monaco
- Montenegro
- North Macedonia
- Malta
- Mexico
- Netherlands
- Norway
- New Zealand
- Peru
- Portugal
- Serbia
- Sweden
- Singapore
- Slovenia
- Slovakia
- San Marino
- Thailand
- Türkiye
- Kosovo
Spotify has also posted an FAQ page on the Premium plan price increase. It stated current customers will be given a one-month grace period before their plans will see the new pricing levels.
While Spotify continues to have a huge user base, it has had two rounds of layoffs in 2023 already. One saw 6 percent of its workforce laid off, and the other had 200 jobs lost in its podcast division. It also got fined $5.4 million by the European Union recently, due to violations of its General Data Protection Regulation (GDPR).