Spotify is increasing its prices - here's which plans are getting more expensive
Spotifyis raising prices for a subscriptionto its family plan in the US to $15.99.
- Subscription prices in the UK and Europe are increasing as well.
- Shares of the music-streaming app rose Monday and Tuesday following the
Spotify is upping the prices for some its Premium subscriptions on April 30, affecting users in the US, UK, and Europe.In the US, Spotify is raising the price for a family subscription, which includes up to six users, to $15.99 from $14.99 per month, while prices for other plans such as Duo, Premium, and Student are unchanged.
"We offer a variety of subscription plans tailored to our users' needs, and we occasionally update our prices to reflect local macroeconomic factors and meet market demands while offering an unparalleled service," a Spotify spokesperson told Insider in a statement.The company added that it "continues to innovate and invest in providing our listeners with greater value than ever before, including the best audio content and user experience."
Spotify, which competes with Apple Music, has about 155 million paying subscribers.
For each song streamed, it pays artists less than a penny. Last year, Spotify said artists could promote their music to more listeners, if they took a pay cut on per-stream revenue.
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