Reports Say Spotify Raises Prices In Some Markets

(CTN News) – Spotify Technology SA (SPOT.N) is planning to raise prices on its plans by about $1 to $2 per month in five markets, including the UK, Australia and Pakistan, by the end of the month, citing sources familiar with the matter.

In early trading, shares of the Swedish streaming service had risen more than 5% from their previous close.

According to the report, Spotify is expected to raise its prices in the United States, its largest territory, in the coming months.

It has also been reported that the company will also launch a new basic tier, for the same price as the current $11 monthly price of an individual premium plan, which will feature music and podcasts but not audiobooks.

It is also reported that the new basic tier of Spotify is the first in a series of new pricing options Spotify will be introducing over the next few years.

As a result of being contacted by, Spotify declined to comment on the report.

The CEO of the company, Daniel Ek, told Business Insider earlier in February that there are “a lot of levers for us to pull, including price increases,” adding the podcast investments were a drag on the business in 2023 as well.

According to the company’s website, the company offers premium monthly plans in the US which include $10.99 for an individual, $14.99 for a couple, and $16.99 for a family, which are all based on a monthly fee.

The new pricing will result in an increase of $1 per month for individual plans, and a $2 increase per month for family plans, as well as so-called combo plans for couples, as a result of the changes in pricing, according to the report.

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