Spotify is raising the price of its premium subscriptions in the US and several other countries, the music streaming company said Monday.
Most prices in the US are going up by $1 on the audio streaming service, except for Spotify's "duo" subscription, which is going up by $2. A single premium, ad-free subscription in the US will now cost $11, while a duo subscription will be $15. The price of a family subscription will be $17, while students will pay $6 a month. Current subscribers will get a one-month grace period before the new prices take effect, the company said.
The price increase comes as Spotify on Tuesday revealed record growth in users. It now has 551 million monthly active users, which is 36 million more than it had three months ago. It also reported having 220 million premium subscribers -- 10 million more subscribers than three months ago.
The company said it's increasing prices so that it "can keep innovating" and help "continue to deliver value to fans and artists" on its platform.
In addition to the US, Spotify is upping its prices in "a number of markets around the world," listing over 50 countries in a blog post announcing the news. The Wall Street Journal reported last week that the price hikes were coming.
The new prices are:
|Premium Single ||Premium Duo||Premium Family ||Premium Student |
Spotify was one of the last music streaming services to maintain a $10-a-month price. The move to $11 in the US follows similar increases for Apple Music (now $11) and YouTube Music (now $14, but includes YouTube Premium). Earlier this month, Spotify stopped allowing subscribers to pay through the App Store, the result of a long-running dispute with Apple over fees.
Spotify is the most popular audio streaming service, with 210 million paying subscribers worldwide, according to Statista. It offers over 100 million tracks (in the OGG format) and includes features such as podcasts and audiobooks.
Meanwhile, Spotify has teased a premium HiFi subscription since 2021, with lossless audio, but has yet to introduce it. It has offered an ad-supported version since 2018.