Spotify Increases Prices for Premium Subscriptions
Prepare to pay a bit more for uninterrupted enjoyment of your favorite tunes, as Spotify has announced a price hike for all its Premium plans. This marks the first increase since the platform’s inception over a decade ago. In the United States, the cost of a Premium Single subscription will rise from $10 to $11 per month. Similarly, the Premium Family and Student plans will each go up by one dollar, now priced at $17 and $6 per month, respectively. The steepest increase applies to Premium Duo, which will now be $15 per month, up by two dollars from its previous cost of $13.
This move follows a trend among competitors, as Apple Music, Amazon Music, and YouTube Music have all raised their ad-free individual plan prices to $11 within the past year. In October of the previous year, Spotify’s CEO, Daniel Ek, seemed pleased with the rising costs of other companies, viewing it as an advantage for Spotify. He expressed a desire to increase subscription fees, particularly in the US, and was confident that Spotify could implement this change in 2023.
Despite the price increase, Spotify’s popularity remains strong, with the music streaming service reporting an additional five million users during the first quarter of 2023 globally. The impact of an extra $12 per year on users may be relatively minimal. The updated prices will be rolled out in multiple countries, including the United Kingdom and Thailand. Spotify has assured users that they will be notified via email regarding the specific amount of the price hike and the date when it will take effect.
Frequently Asked Questions (FAQs) about Premium plans
Q: What is the news about Spotify raising the price of its Premium plans?
A: Spotify has announced a price increase for all its Premium plans. The Premium Single subscription will go from $10 to $11 per month in the United States, while the Premium Family and Student plans will increase by one dollar each, now costing $17 and $6 per month, respectively. Premium Duo will see the steepest bump, rising by two dollars from $13 to $15 per month.
Q: How does this price increase compare to other music streaming services?
A: The move follows similar price hikes by competitors like Apple Music, Amazon Music, and YouTube Music, who have raised their ad-free individual plan prices to $11 in the past year.
Q: When will the new prices be implemented?
A: The updated prices are rolling out globally, affecting various countries, including the United Kingdom and Thailand. Spotify will contact users via email to notify them of the exact amount of the price increase and when it will take effect.
Q: How is Spotify’s user base responding to the price increase?
A: Despite the price hike, Spotify reported an increase of five million users during the first quarter of 2023, indicating that the impact of an extra $12 per year may not significantly deter users.
Q: What was Spotify CEO Daniel Ek’s perspective on the price increase?
A: Last October, Daniel Ek expressed enthusiasm about competitors raising their prices, stating that it would be beneficial for Spotify. He also indicated a desire to increase subscription fees, especially in the US, which has now become a reality in 2023.
More about Premium plans
- Spotify raises Premium prices
- Apple Music, Amazon Music, and YouTube Music price hikes
- Spotify’s user growth during 2023’s first quarter
- Daniel Ek’s comments on competitor price increases
1 comment
spotify’s gettin’ pricey, but whatevs, still gonna jam to my fave songs. they got more users tho, so maybe not a biggie?