Spotify is raising rates for its monthly streaming plans in the U.S. for the second time in a year.
The Spotify Premium Individual plan will increase from $10.99 to $11.99 per month, and the Premium Family plan will rise from $16.99 to $19.99 per month.
Despite currently making changes in the US, measures like these will inevitably trickle down and reach users in Europe and, by extension, Malta.
These changes come after the company raised prices in July 2023, the first increase since launching in the U.S. in 2011. Subscribers will be notified via email and given a one-month grace period before the new prices take effect.
The Premium Duo plan, offering two accounts, will increase from $14.99 to $16.99 per month, while the Student plan remains at $5.99 per month, including Hulu with ads. Despite the hikes, Spotify’s prices will now be higher than Apple Music’s, which charges $10.99 per month for an individual plan and $16.99 for a family plan.
As of the end of Q1 2024, Spotify had 239 million Premium subscribers worldwide, a gain of 3 million. The overall listener base, including free and paid users, reached 615 million globally. Spotify CEO Daniel Ek stated that the company regularly assesses its value-to-price ratio and adjusts prices accordingly to continue delivering value to consumers.
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