Spotify announces price increase for next week premium subscription

Spotify, a popular subscription music service, is finally giving in to long-standing resistance against raising its monthly subscription price. According to the Wall Street Journal, the company plans to implement a price increase in the US starting next week.

The standard subscription rate for Spotify’s ad-free premium tier will be raised by $1, pushing the monthly cost from $9.99 to $10.99.

While the price change initially targets the US market, dozens of other markets will also witness similar increases in the coming months.

This move follows Apple Music’s decision to raise its subscription price by $1 to $10.99 almost a year ago. Subsequently, Amazon Music and other streaming services followed suit.

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Although Spotify has not officially announced the price change, Apple attributed the increase to rising licensing costs.

Apple claimed that the extra dollar per month would enable artists and songwriters to earn more from the streaming of their music.

Apple Music also boasts of continuous improvements, striving to provide the best listening experience for its users.

In addition to the price increase, Spotify recently compelled its legacy subscribers to pay directly, bypassing Apple’s App Store payment system. This measure ensures that Spotify retains the entire revenue stream without sharing a portion with Apple.