(HYPEBOT)—Spotify will add a higher-priced premium in the coming months, which should also increase revenue for creators.
According to Bloomberg, the new Premium Plus plan will cost about 40% more per month, depending on the user’s current tier. It will include the long-promised high-fidelity audio and advanced playlist creation and library management tools.
According to sources, Spotify’s goal is to offer an enhanced user experience without disrupting the current pricing structure for most users.
Last week, the streamer announced a $1 monthly price hike in the US, raising the cost of its standard paid tier to $11.99 per month after another $1 price increase in 2023.
Bruce Houghton is the Founder and Editor of Hypebot, a Senior Advisor at Bandsintown, President of the Skyline Artists Agency, and a Berklee College Of Music professor.
