Spotify raises its premium price in the US
Spotify announced that it is increasing subscription prices for its US customers, marking the second price increase in a year. The price increases come as Spotify recently reported a 20 percent increase in revenue and a 14 percent increase in premium subscribers.
Digital music platform Spotify announced that it has increased subscription prices for its customers in the USA. The individual plan increased from $10.99 to $11.99, the duo plan increased from $14.99 to $16.99, and the family plan increased from $16.99 to $19.99.
The price increases come as Spotify recently reported a 20 percent increase in revenue, a 14 percent increase in premium subscribers and a record quarterly profit. “We are increasing the price of Premium Individual so we can continue to invest and innovate our product offerings and features,” the company said in a statement.
The company also confirmed that the new premium pricing is valid for new subscribers starting today, while it will only be available for existing subscribers from the July billing date.