Spotify will officially raise the price of its premium subscription by $1, the first time since it launched in the US in 2011.
12 years ago, Spotify created its individual premium subscription which currently hosts over 200 million members and is the world’s most popular audio streaming service.
But those members could be shaken in loyalty as Spotify is raising the individual subscription price to $10.99, a dollar more than the current price and their first increase since its inception.
Spotify has been warning of an impending price hike since before November of 2022 citing Apple Music’s increase due to inflation and a changing streaming landscape.
But an official Spotify blog post confirmed the increase for 50 markets, including the US, Canada, much of Europe, and regions in Asia, South America, and Australia.
Customers have a one-month grace period so they can cancel or consider other plan options like the Premium Family or Premium Student.
Read the full blog post announcing Spotify raising its premium price here.
All images stock photos from Pexels
