Spotify Premium prices set to increase
nme.comSpotify has announced that it will be raising the price of its monthly premium membership by more than nine per cent.Last summer, the streaming platform hiked its subscription prices for the first time ever in the 10 years since the streaming service launched.
At the time, the premium plan went up to £10.99 per month, up from the previous price of £9.99 monthly in the UK. In The US, the premium subscription increased from $10 to $11 monthly.Now, Spotify has revealed that their subscription will be increasing to £11.99 in the UK and $12 in the US.
According to a Bloomberg report, Spotify plans to raise its subscription price in five markets, including the UK, Australia, and Pakistan, by the end of April, and will raise prices in the US later this year.Speaking to City A.M., a Spotify spokesperson said that the subscription price hike was done “so that we can keep innovating and delivering value to fans, the music industry, and creators on our platform, we occasionally update our prices”.They continued: “We’ve begun communicating with existing subscribers in the UK to explain what this means for their account.”The price increase also comes ahead of a huge increase in music streaming.
Read more on nme.com
