Spotify has confirmed that it has raised prices effective today in 50 markets, including the US, UK, Europe, South America, and Asia, following similar increases by Apple Music and other music streaming competitors months ago.
Major record labels have been calling on Spotify to raise prices for months. JPMorgan Chase analysts said a $1 price increase for U.S. individual plans would increase Spotify’s annual revenue by about $200 million.
‘“The market landscape has continued to evolve since we launched,” said Spotify. “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 delivering value to fans and artists on our platform.”
Starting today, the Spotify Premium plan in the United States will rise by $1 to $10.99 a month, the Premium Duo plan will cost $14.99 a month, the Premium Family Plan is now set at $16.99 a month, and the Premium Student Plan will cost $5.99 a month.
An email will be sent to subscribers today that explains how the increase affects them, said Spotify.
The countries affected by increases are Andorra, Albania, Argentina, Austria, Australia, Bosnia and Herzegovina, Belgium, Bulgaria, Brazil, Canada, Chile, Colombia, Costa Rica, Cyprus, Denmark, Ecuador, Estonia, Spain, Finland, France, United Kingdom, Greece, Guatemala, Hong Kong, Croatia, Indonesia, Ireland, Israel, Iceland, Italy, Lithuania, Luxembourg, Latvia, Monaco, Montenegro, North Macedonia, Malta, Mexico, Netherlands, Norway, New Zealand, Peru, Portugal, Serbia, Sweden, Singapore, Slovenia, Slovakia, San Marino, Thailand, Türkiye, United States, Kosovo.
Exactly how this increase fits with Spotify’s promised launch of a “Supremium” HiFi audio tier is unclear.
