- Several Spotify services will see prices increased
- Second time in a year that the streaming service has increased its rates
- Rate rise in US follows hike in international subscriber prices last month
Spotify is to increase the price of its Premium, Duo and Family plans for subscribers in the US from next month.
From July, US-based subscribers will start receiving emails outlining how much the increases will be. Spotify Premium is rising by $1 a month to $11.99, Duo will jump by $2 a month to $16.99, while Family is increasing by $3 to $19.99 per month.
Continued investment
These increases come barely a year after the last increases in subscriptions and will mean that a Spotify Duo subscription will have gone up by 30% compared to its price before the 2023 increase.
The rationale for the increase is so that the company can “continue to invest in and innovate on our product features and bring users the best experience” according to a post on the company’s blog.
This price hike in the US follows rises for international subscribers announced in May.
Increased costs
Another reason for the price rises is that the cost of doing business for streaming services is increasing, as is competition between the players in the market. Spotify has also recently announced redundancies – including to its podcast business – and other cost cutting measures.
Spotify is not the only streaming service to raise its prices recently. Companies including Paramount, Warner Bros Discovery, NBCUniversal and Netflix have all bumped up their prices in the past 12 months.
But the platform remains hugely popular and streaming records keep on being broken. In February, Canadian superstar The Weeknd became the first artist to have two songs streamed more than 3 billion times – Blinding Lights and Starboy.
