Tech Desk 
Jun 03, 2024
Spotify, a music-streaming giant, on Monday unveiled its new subscription fees for customers in the US. The company confirmed that premium pricing will rise in July from $10.99 to $11.99, specifying a rise of nearly 1%.
The Duo and Family plans will go up to $16.99 and $19.99, amounting to a $2 and $3 increase. Whereas. the student plan will remain unchanged at $5.99 per month. Spotify currently reported a 20% increase in revenue, a 14% increase in premium subscribers, and a record quarterly profit.
However, the new price structure places it above its big rival Apple which charges $10.99 and $16.99 for individual and family plans.
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Spotify’s price rise relates to a similar announcement last year, where it unveiled an increase in price globally, including the US where the ad-free individual premium plan raised from $9.99 to $10.99 per month. However, the Duo, Family, and Student plans all hiked too.
The company stated that premium subscribers will get an email about the price increase in the next month. In addition, the company claimed that the new premium price is applicable for new subscribers as of today. Whereas, it will be applicable to existing subscribers from their July billing date.
