Spotify, the popular music streaming service, has recently announced a global price increase for its premium subscription plans in various markets. The decision comes as the company aims to adapt to the evolving market landscape and continue delivering value to both fans and artists.
In the United States, the Premium Individual plan's cost has risen from $9.99 to $10.99, while the Premium Duo plan has increased to $14.99 from $12.99. The Premium Family plan now comes with a price tag of $16.99, up from $15.99, and the Student plan costs $5.99, up from $4.99.
The price hike extends to 53 other countries, including Canada, France, the UK, Mexico, and Australia. To ensure transparency, existing subscribers will be notified of the changes via email and will be given a one-month grace period before the new prices take effect.
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This move by Spotify follows similar actions from its competitors in the music streaming industry. Apple Music raised its subscription fee for individuals to $10.99 per month, while Amazon Music Unlimited also increased its monthly rate to $10.99 for non-Prime members.
Even YouTube, owned by Google, has implemented a price increase, with the Premium individual plan now costing $13.99 per month instead of $11.99 for new and current customers. Subscribing from the iOS YouTube app will come with a higher price of $18.99.
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These price adjustments reflect the companies' efforts to continue providing quality services and content while adapting to the changing dynamics of the music streaming market. Despite the price increases, these platforms remain popular choices for music enthusiasts worldwide.
Inputs from IANS
