Spotify is raising prices for its 200 million ad-free subscribers for the first time in over a decade, the platform has announced. In the US, the cost will increase from $9.99 to $10.99 (£8.57) for those with an individual plan. Similar price hikes also apply to the UK, Canada, Australia and 49 other territories.
The move follows other streaming services which have also increased subscription costs. “So that we can keep innovating, we are changing our Premium prices across a number of markets around the world,” the music streaming service said on Monday.
The company raised prices of US family plans and UK Student, Duo, and Family plans in 2021. Individual subscriptions were previously unaffected. Apple Music, Peacock, Netflix, Max, and Paramount+ have also recently raised subscription prices. The new Spotify Premium cost matches the monthly plans of competitors Apple Music and Amazon Music.
Spotify has 515 million active users in over 180 markets and about 40% of those users are subscribers.
