Spotify Premium users in the UK and US will have to pay an extra £1 for their subscription going forwards.
Until now, the price of the Swedish streamer’s subscription – which takes away ads and adds the option to download tracks to listen to offline – had remained the same since it launched ten years ago.
An individual Premium plan now costs £10.99 a month, while various plans for multiple users have also gone up by £1 per month, with a Duo subscription now priced at £14.99 and a Family plan – covering six people – now faring at £17.99. Currently, only the student subscription, costing £5.99 a month, remains unchanged.
Meanwhile, in the United States, a Premium subscription has increased from $10 to $11 monthly, while Duo plans have increased from $13 to $15 and Family plans have gone from $16 to $17. However, student plans have also risen in price in the US, rising to $6 per month.
In a blog post, Spotify said that they increased prices due to pressures from the record industry, and affirmed it would allow it to continue to grow in an ever-expanding market.
“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,” it read. “These updates will help us continue to deliver value to fans and artists on our platform.”
The free version of Spotify, which offers access with adverts, is still available, as is the 30-day free trial for any users wanting to try Premium.
The Evening Standard reports that the price hikes have been in the pipeline for months, with Spotify CEO Daniel EK previously stating that the company was “ready to raise prices” and “would like to do that in 2023”. It also reports that the plan had been discussed with record labels.
Around 41 per cent of Spotify’s 515 million users globally pay for Premium. The new prices mean that it now costs the same as rival streamers Apple Music and Amazon Music Unlimited.