
After making hints in their Q1 earnings call, Spotify has joined a number of subscription services, including YouTube Music, in raising its monthly prices. The company has announced a $1 per month increase, taking the cost of its personal Premium service from $9.99/month to $10.99/month.
The audio streamer has also raised the price of its Premium Family plan to $16.99/month and the Premium Duo plan to $14.99/month. Spotify increased prices last year in 46 different markets outside the US and had been in negotiations with label partners. In a statement, Spotify cited its A.I. DJ, Blend playlists, audiobook additions, and its original podcasts as reasons for a change.
In their statement, Spotify said, “Existing Spotify Premium plan subscribers will be notified via email and given a one-month grace period before the new price becomes effective, unless they cancel before the grace period ends.”
Spotify recently made headlines for making sweeping staff and product cuts across its podcast division. The company is also reportedly developing a hi-fi streaming option at a potentially higher price tier called “supremium” within the company.