Spotify, today announced a price hike for its premium subscription plans in the US, the second increase within a year.
The new pricing will take effect for new subscribers starting June 3, 2024, while existing subscribers will see the change reflected in their July billing cycle.
The Individual plan will increase from $10.99 to $11.99 per month, Duo plan jumps from $14.99 to $16.99 per month, and the Family plan rises from $16.99 to $19.99 per month. The Student plan will remain at $5.99 per month.
Spotify justifies the price increase as a necessary measure to fund continuous investment and innovation in its product features, ensuring an enhanced user experience.
This announcement comes after a similar price hike in July 2023, which affected various regions globally. In the US, the individual ad-free premium plan increased from $9.99 to $10.99 per month, with corresponding adjustments for Duo, Family, and Student plans.
Spotify confirmed that existing subscribers will receive email notifications regarding the upcoming price change within the next month. New subscribers signing up after June 3, 2024, will be subject to the new pricing immediately. Existing users on a free trial will be charged the new $11.99 monthly fee after their trial period ends.
This price hike follows a trend across streaming services. The need to secure licensing rights for music and podcasts, coupled with investments in expanding content libraries and improving user experience, likely influences these adjustments.
Spotify offers a variety of subscription plans targeted at different user preferences. The Premium Individual plan provides ad-free music listening, on-demand playback, and the ability to download music for offline listening. Students can enjoy a discounted Premium Student plan with the same benefits.
For couples living together, the Premium Duo plan offers ad-free music listening, on-demand playback, and offline music downloads for both users. Finally, the Premium Family plan allows up to six users residing in the same household to enjoy the same benefits as Premium Individual.
Those who are not ready to commit to a paid subscription can still utilize Spotify’s free tier, which offers ad-supported music listening with limited controls over song selection.
