Spotify, the world’s leading music streaming service, has announced that it will be increasing the price of its Premium subscription offerings by up to 20%. The price increase will go into effect on August 1, 2023, for all existing and new subscribers.
In the United States, the Premium Individual plan will increase from $9.99 to $10.99 per month. The Premium Duo plan will increase from $12.99 to $14.99 per month, and the Premium Family plan will increase from $15.99 to $16.99 per month. The Student plan will increase from $4.99 to $5.99 per month.
| Premium Individual | Premium Duo | Premium Family | Premium Student |
| $10.99 | $14.99 | $16.99 | $5.99 |
Spotify said that the price increase is necessary to “continue to deliver value to fans and artists.” The company said that it has been investing heavily in new features and content and that the price increase will help to support these investments.
“So that we can keep innovating, we are changing our Premium prices across a number of markets* around the world. These updates will help us continue to deliver value to fans and artists on our platform.” Spotify stated in a blog post.
It remains to be seen how the price increase will affect Spotify’s subscriber growth. However, the company has said that it is confident that the increase will not have a significant impact on its business.
