Spotify to increase premium pricing in the US to $11.99 per month
Reading Time: < 1 minutesSpotify has announced it’s hiking subscriptions for customers in the U.S., the second such price increase in the space of a year.
The music-streaming giant reports that premium pricing will increase in July from $10.99 to $11.99, representing a rise of nearly 10%. The Duo and Family plans will go up to $16.99 and $19.99, which are $2 and $3 increases respectively, while the student plan will remain at $5.99 per month.
The price rises come as Spotify appears to be in fairly rude health, recently reporting a 20% increase in revenue, a 14% increase in premium subscribers, and a record quarterly profit. But the new pricing structure puts it above its big rival Apple, which — for now, at least — continues to charge $10.99 and $16.99 for individual and family plans respectively.
Spotify’s increase follows a similar announcement last July, when it revealed a swathe of price-hikes around the globe, including in the U.S. where the ad-free individual premium plan went up from $9.99 to $10.99 per month; and the Duo, Family, and Student plans all went up too.
Ref: techcrunch
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