Spotify Has Raised The Price Of Its Premium Subscription Plans

(CTN News) – It was announced Monday that Spotify is raising the price of its Premium subscription offerings by as much as $2, which translates to a 20% price increase for some of its plans.

There have been a number of changes made to the Spotify platform since the company launched, and the company believes that these changes will enable the company to “continue to deliver value to fans and artists,” according to a blog post published by the company.

According to Spotify, its Premium Individual offering in the United States has increased in price to $10.99, up from $9.99, while its Premium Duo plan has increased in price to $14.99, up from $12.99.

In addition, the Premium Family plan will now cost $16.99, up from $15.99, while the Student plan will now cost $5.99, up from $4.99, on a monthly basis.

The shares of Spotify were down 5% in the early hours of Monday morning.

As well as raising its prices for its services in the United States, Canada, France, the United Kingdom, Mexico and Australia, Spotify is also raising its prices in a number of other countries as well.

There will be an email notification sent to existing subscribers about the price changes, and they will have a month’s grace period before the new prices become effective, according to the company.

“As we continue to grow our platform, we will be updating our Premium prices so that we can be able to continue to innovate in the face of changing market conditions,” the company wrote on its website.

It is expected that Spotify will report its quarterly earnings on Tuesday morning at 6 a.m. Eastern Time.

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