Spotify raises premium subscription price for millions

Spotify is raising prices for its 200 cardinal ad-free subscribers for the archetypal clip successful implicit a decade, the level has announced.

In the US, the outgo volition summation from $9.99 to $10.99 (£8.57) for those with an idiosyncratic plan.

Similar terms hikes besides use to the UK, Canada, Australia and 49 different territories.

The determination follows different streaming services which person besides accrued subscription costs.

"So that we tin support innovating, we are changing our Premium prices crossed a fig of markets astir the world," the euphony streaming work said connected Monday.

"These updates volition assistance america proceed to present worth to fans and artists connected our platform."

In the US, the Premium Duo program volition summation from $12.99 to $14.99, the Family program volition summation from $15.99 to $16.99, and the Student program volition summation from $4.99 to $5.99.

Premium subscribers successful the UK volition wage an other £1 per month, according to The Verge.

Spotify said users "will beryllium fixed a one-month grace play earlier the caller terms becomes effective, unless they cancel earlier the grace play ends".

The institution raised prices of US household plans and UK Student, Duo, and Family plans successful 2021. Individual subscriptions were antecedently unaffected.

Apple Music, Peacock, Netflix, Max, and Paramount+ person besides precocious raised subscription prices.

The caller Spotify Premium outgo matches the monthly plans of competitors Apple Music and Amazon Music.

In an April net call, Swedish CEO Daniel Ek said the institution would "like to rise prices successful 2023".

"When the timing is right, we volition rise it and that terms summation volition spell down good due to the fact that we're delivering a batch of worth for our customers," Mr Ek said.

The euphony elephantine chopped 6% of unit successful January, citing a request to amended efficiency.

The institution volition proceed to connection a escaped program that includes advertising.

Spotify has 515 cardinal progressive users successful implicit 180 markets and astir 40% of those users are subscribers.