Last month, it was reported that Spotify would be raising its prices soon. It turns out the reports were true, as today (July 24), Spotify announced that prices will indeed be going up.
A blog post from Spotify shared today explains:
“Since launching in 2008, Spotify has innovated and invested to build the best audio experience for you and your favorite artists and creators. We have continually revealed new opportunities for fans and creators to connect through the power of our platform, from discovery tools like our new AI DJ, to fan-favorite shared experiences like Blend and the introduction of podcasts and audiobook content.
With 200+ million Premium subscribers, we’re also proud to be the world’s most popular audio streaming subscription service, giving Premium users access to on-demand and ad-free music listening, offline music downloads, and quality music streaming. 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.”
It then outlines the new prices for its various plans in the US: $10.99 for Premium Individual, $14.99 for Premium Duo, $16.99 for Premium Family, and $5.99 for Premium Student. The post also links to an FAQ page with more information, which notes in regards to when the new pricing will go into effect, “Existing Spotify Premium plan subscribers will be notified via email and given a one-month grace period before the new price becomes effective, unless they cancel before the grace period ends.”
As The Hollywood Reporter notes, the new prices for all plans are now $1 greater than before, except for Premium Duo, which jumped by $2. The increased prices put Spotify on par with Apple Music, Amazon Music, and YouTube Music, all of which are also currently $10.99 per month.