For the first time since 2011 music streaming service Spotify is increasing the prices on all its premium membership plans. The company will be raising the price of its standard Premium plan by $1, making it $10.99 a month.
As far as Spotify’s other plans go, Premium Duo plans will be going up by $2, putting it at $14.99 per month. Family plans will be raised by $1, bringing it to $16.99 a month. Even the company’s Student plans will be going up $1, putting it at $5.99 a month.
All of these price changes will be taking effect on the streamer’s next billing cycle.
“The market landscape has continued to evolve since we launched,” Spotify said in a statement. “So that we can keep innovating, we are changing our Premium prices across a number of markets around the world. These updates will help us continue to deliver value to fans and artists on our platform.”
Spotify is just the latest in a current wave of music streaming services increasing the cost of subscriptions. Earlier this month, YouTube and Tidal announced that they would be raising prices on their services. Apple already raised their subscription costs in October of 2022.
We’ll keep you posted on any developments with Spotify as they become available.