July 24, 2023, 10:20 PM
July 24, 2023, 10:20 PM
Online music service Spotify announced a price increase for ad-free subscriptions for 200 million users for the first time in more than a decade.
In the United States, the price has risen from $9.99 to $10.99 for those with an individual plan.
Similar increases will be applied in Argentina, Chile, Colombia, Costa Rica, Ecuador, Spain, Guatemala, Mexico and Peruthe company said in a statement.
Also in the UK, Canada, Australia and 49 other territories.
“So that we can continue to innovate, we are changing our premium pricing in various markets around the world,” the company said.
“These updates will help us continue to bring value to fans and artists on our platform.”
In the United States, the duo plan increases from US$12.99 to US$14.99, the family plan increases from US$15.99 to US$16.99 and the student plan increases from US$4.99 to US$5.99.
In Mexico, the student plan goes from 57 to 69 Mexican pesos per month, the individual rises from 115 to 129the duo from 149 to 169 and the family member from 179 to 199, reported the local press.
In Colombia, the plan for students increases from 7,490 to 9,300 Colombian pesos, the individual from 14,900 to 16,900the premium duo from 19,900 to 21,400 and the family plan from 23,900 to 26,400.
In Peru, the student plan rose from 9.90 to 11.90 soles per month, the individual from 18.90 to 20.90, the duo from 24.90 to 26.90 soles and the family from 29.90 to 32.90.
Spotify said users “will receive a one-month grace period before the new price takes effect, unless they cancel before the end of the grace period.”
Apple Music, Peacock, Netflix, Max, and Paramount+ have also recently raised their subscription prices.
Spotify Premium’s new cost matches the monthly plans of competitors Apple Music and Amazon Music.
In April, the company’s chief executive, Daniel Ek, said that Spotify “would like to raise prices in 2023.”
“When the time is right, we will increase it and that price increase will be welcomed because we are delivering a lot of value to our customers,” Ek said.
The music giant cut 6% of staff in January, citing efficiencies needed to be improved.
The company will continue to offer a free plan that includes advertising.
Spotify has 515 million active users in more than 180 countries. About 40% of those users are subscribers.
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