Spotify is elevating the worth of its premium subscriptions within the US and several other different international locations, the music streaming firm mentioned Monday.
Most costs within the US are going up by $1 on the audio streaming service, apart from Spotify’s “duo” subscription, which goes up by $2. A single premium, ad-free subscription within the US will now price $11, whereas a duo subscription will likely be $15. The value of a household subscription will likely be $17, whereas college students can pay $6 a month. Present subscribers will get a one-month grace interval earlier than the brand new costs take impact, the corporate mentioned.
The value improve comes as Spotify on Tuesday revealed report development in customers. It now has 551 million month-to-month energetic customers, which is 36 million greater than it had three months in the past. It additionally reported having 220 million premium subscribers — 10 million extra subscribers than three months in the past.
The corporate mentioned it is growing costs in order that it “can hold innovating” and assist “proceed to ship worth to followers and artists” on its platform.
Along with the US, Spotify is upping its costs in “quite a lot of markets world wide,” itemizing over 50 international locations in a weblog publish saying the information. The Wall Road Journal reported final week that the worth hikes had been coming.
The brand new costs are:
Premium Single Premium DuoPremium Household Premium Pupil $11$15$17$6
Spotify was one of many final music streaming providers to take care of a $10-a-month worth. The transfer to $11 within the US follows related will increase for Apple Music (now $11) and YouTube Music (now $14, however contains YouTube Premium). Earlier this month, Spotify stopped permitting subscribers to pay by means of the App Retailer, the results of a long-running dispute with Apple over charges.
Spotify is the preferred audio streaming service, with 210 million paying subscribers worldwide, based on Statista. It gives over 100 million tracks (within the OGG format) and contains options comparable to podcasts and audiobooks.
In the meantime, Spotify has teased a premium HiFi subscription since 2021, with lossless audio, however has but to introduce it. It has provided an ad-supported model since 2018.