Brace yourselves, Spotify users – for the second time in less than a year, Spotify is raising prices for its premium subscription plans in the US. The new pricing structure takes effect immediately for new subscribers and will be reflected in existing subscribers’ bills on their next billing date starting July 1st.
Spotify raises prices for the second time in less than a year. Photo: CNET.
The Individual plan, which previously cost $10.99 per month, now jumps to $11.99. The Duo plan, meant for two users sharing an account, sees a $2 bump to $16.99. The Family plan, catering to up to six users, faces the most significant increase, rising from $16.99 to $19.99. The Student plan, however, remains unchanged at $5.99 per month.
This price hike comes just eleven months after Spotify’s first increase in the US since 2011. Users expressed frustration online, with some questioning the justification for such frequent price adjustments. In a blog post announcing the change, Spotify cited the need to “continue to invest in and innovate on our product features and bring users the best experience.”
The company has been expanding its offerings beyond music streaming, venturing into audiobooks and potentially even a higher-tier subscription plan with additional features. These initiatives likely require significant financial investment, and the price hike could be a way to offset those costs.
While some users might be willing to pay more for an enhanced experience, others might be tempted to explore alternative streaming services, especially considering the rising competition in the music streaming market. Spotify will need to carefully navigate this price change and ensure the value proposition of its premium plans remains competitive to retain its subscriber base.
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