Spotify confirms Premium price hike for a ton of markets (Update)

Update: July 24, 2023 (7:35 AM ET): Spotify has now made it official, confirming (h/t: The Verge) that it’s increasing the price of its Premium subscription in a ton of markets.

The streaming service revealed that a Spotify Premium subscription will now cost $10.99 a month in the US. It also revealed that the Duo, Family, and Student plans will now cost $14.99, $16.99, and $5.99 respectively. This is a $1 leap across the board, with the exception of a $2 hike for the Duo tier.

Spotify confirmed that the price hike also affects Europe, Canada, Latin America, Hong Kong, and Indonesia. However, the likes of Africa, Germany, Japan, Malaysia, the Philippines, and Taiwan aren’t listed here.

Original article: July 24, 2023 (12:44 AM ET): Spotify is reportedly hiking prices for its Premium subscription in the US sometime this week. According to The Wall Street Journal, Spotify Premium will cost $1 more with the new price increase. That means you should expect to pay $10.99/month for the individual Premium plan once the change comes into effect. It is unclear whether Spotify will also increase prices for the Duo, Family, and Student Premium plans.

Spotify Premium has been available for $9.99 per month since it first launched in the US over a decade ago. The Spotify price increase comes at a time when streaming services, both audio and video, are getting more expensive across the board. Spotify is reportedly under pressure to increase profitability, given that competitors like Apple, YouTube, and Amazon have already hiked prices in multiple markets.

WSJ reports that Spotify Premium will also get more expensive in dozens of markets globally. The price increases will be rolled out more widely in the coming months, followed by the US price hike.

As of now, there’s no official word from Spoify about the upcoming price hike. We’ll let you know if and when the service announced a pricing change.