According to nme.com, the music streaming platform Spotify have increased their subscription prices for the first time. The prices changes which will affect users in the US and UK.
The change in price is the first time that the cost of subscription has increased in the 10 years since the streaming service launched.
The Premium plan for the UK now costs £10.99 per month, up from the previous price of £9.99 monthly. Various plans for multiple users have gone up by £1 per month.
The duo subscription now priced at £14.99 and the family plan is now priced at £17.99. for now, the only plan to remain unchanged is the Spotify student subscription, which remains at £5.99 each month.
The Premium subscription in the US has increased $10 to $11 monthly, Duo plans have increased from $13 to $15 and Family plans have gone from $16 to $17. Also the cost of student plans has increased to $6 per month, which is one dollar more than before.
According to a blog post, Spotify did mention the price increase was related to pressures from the record industry and the changes would allow the platform to continue to grow in an expanding market.
“The market landscape has continued to evolve since we launched. 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.” said Spotify.
At this time, all four subscription plans come with a one month free trial for new customers and the free option is still available.
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