Spotify is increasing its subscription prices in the U.S. for the second time in a year. Starting in July, the premium plan will rise from $10.99 to $11.99 per month, a nearly 10% increase. The Duo and Family plans will also see hikes to $16.99 and $19.99, respectively, while the student plan remains at $5.99 per month.
Despite these increases, Spotify is performing well, with a 20% rise in revenue, a 14% increase in premium subscribers, and a record quarterly profit. However, the new pricing makes Spotify more expensive than Apple Music, which still charges $10.99 and $16.99 for individual and family plans, respectively.
Subscribers will be notified via email about the price changes, which will apply to new subscribers immediately and to existing subscribers from their July billing date. Read here full announcement.
