Spotify Premium Plans Get Price Hike in the US: Indian Pricing Remains Unchanged

Spotify has announced another price increase for its premium plans, starting next month. This is the second price hike for the music streaming service's premium plan in the space of a year.

This latest increase reflects the competitive nature of the streaming music industry and the ongoing pricing strategies among major players. Spotify says the new pricing for the premium plan will be applicable to new subscribers as of today.

Spotify Premium Plan New Pricing

The new cost for Spotify's premium plan will be $11.99 per month, up from $10.99. The Duo plan will rise to $16.99, a $2 increase, while the family plan will be $19.99, up by $3. The student plan remains unchanged at $5.99 per month.

Currently, this hike applies only to the US market. However, it is expected to extend to other Western markets soon. With this increase, Spotify becomes more expensive than Apple Music in the US, which still charges $10.99 for individual plans and $16.99 for family plans.

As of now, the prices of Spotify's premium plans in India remains unchanged.

Why the Price Hike?

This move may push Apple Music to raise its prices to match Spotify. Despite the hike, Spotify has been performing well, reporting 20% higher revenue and 14% more premium subscribers.

This indicates that the price increase is not out of desperation but rather a strategy to maximize revenue during prosperous times. The previous price increase from Spotify occurred in July last year, raising the premium plan from $9.99 to $10.99.

As of now, Spotify's new price hikes are only applicable for new customers. However, existing subscribers will also begin receiving emails about the price increases in the next month.

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