For those who have an individual plan, the price will rise from $9.99 to $10.99 (£8.57) in the US.
The United Kingdom, Canada, Australia, and 49 other nations all experience comparable price increases.
The action is in line with other streaming services that have raised their subscription prices.
The music streaming service announced on Monday that it was altering its Premium fees “across a number of markets around the world so that we can keep innovating.”
“These updates will assist us in maintaining the value we currently provide to fans and artists on our platform,”
The Premium Duo plan will cost $14.99 instead of $12.99 in the US, while the Family plan will cost $16.99 instead of $15.99 and the Student plan will cost $5.99 instead of $4.99.
According to The Verge, premium members in the UK will pay an additional £1 per month.
Users will have a one-month grace period before the higher pricing takes effect, unless they cancel before the grace period expires, according to Spotify.
In 2021, the firm increased the cost of US family plans as well as UK student, duo, and family plans. Before, individual subscriptions remained unaffected.
Recently, the subscription costs for Apple Music, Peacock, Netflix, Max, and Paramount+ were also increased.
The new Spotify Premium price is in line with that of rival services Apple Music and Amazon Music for monthly plans.
Swedish CEO Daniel Ek stated the company would “like to raise prices in 2023” during an earnings call in April.
When the time is perfect, we will raise the price, and because we are giving our consumers a lot for their money, Mr. Ek predicted that the price rise will be well received.
The major record label eliminated 6% of its workforce in January, citing a need to increase productivity.
The business will keep providing a free plan with advertising.
In more than 180 markets, Spotify has 515 million active users, and about 40% of those users are customers.
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