“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 company said.
“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,” Spotify added.
New subscription price
In the US, the subscription will now cost $10.99 a month from $9.99. The company is also increasing the cost of Premium Duo from $12.99 to $14.99, Premium Family from $15.99 to $16.99, and Premium Student from $4.99 to $5.99. Existing subscribers will also get a one-month grace period before the new pricing takes effect.
Countries getting the price hike
Spotify is not increasing the price of its premium subscription in India. The countries getting price hikes include: Andorra, Albania, Argentina, Austria, Australia, Bosnia and Herzegovina, Belgium, Bulgaria, Brazil, Canada, Chile, Colombia, Costa Rica, Cyprus, Denmark, Ecuador, Estonia, Spain, Finland, France, United Kingdom, Greece, Guatemala, Hong Kong, Croatia, Indonesia, Ireland, Israel, Iceland, Italy, Lithuania, Luxembourg, Latvia, Monaco, Montenegro, North Macedonia, Malta, Mexico, Netherlands, Norway, New Zealand, Peru, Portugal, Serbia, Sweden, Singapore, Slovenia, Slovakia, San Marino, Thailand, Turkey, United States, Kosovo.
YouTube and Apple Music subscription increase
The development comes a week after Google-owned YouTube hiked prices for its premium subscribers in the US. YouTube did not specify the price hikes for other markets.
The monthly subscription price went up from $11.99 to $13.99, and the annual subscription price increased from $119.99 to $139.99. Additionally, those subscribed to YouTube Music will have to pay $10.99 per month. The subscription charges for iPhone users are $18.99.
In October, Apple also increased the prices of almost all its subscription services, including Apple Music. Apple Music’s individual plan now costs $10.99 and the family plan costs $16.99 with an increase of $1 and $2, respectively.