Spotify, one of the most popular music streaming services, is planning to raise its monthly subscription prices in the United States by $1. The price hike will take effect as early as next week, and it will bring the cost of the ad-free Premium plan to $10.99
The price increase comes after other major music streaming services, such as Apple Music and Amazon Music, have also raised their prices in recent months. Spotify has resisted raising its prices for some time, but it is now following suit in order to remain competitive.
The price hike will affect all Spotify subscribers in the United States, including those who currently have the Premium plan. However, students will still be able to get a 50% discount on the Premium plan, and couples and families will still be able to get discounted family plans.
Spotify has a vast library of over 80 million songs, podcasts, and audiobooks. The Premium plan offers ad-free listening, the ability to download music and podcasts for offline listening, and the freedom to listen to any track in any order.
The price hike is likely to be met with some resistance from Spotify subscribers. However, the company says that the increase is necessary to keep up with the rising costs of licensing music. Increasing the price for other markets such as the Philippines is also a huge possibility so stay tuned.