Spotify The company announced on Monday that it would be increasing the prices of its premium subscription plans in the United States. The Swedish music streaming company has increased its prices for the second time in a year, and US Spotify users will be informed of the new changes to their subscriptions within the next month.
Spotify shares rose more than 5% in premarket trading on Monday.
For US users, the “Individual” plan will cost $11.99, the “Duo” plan will cost $16.99 and the “Family” plan will cost $19.99. The “Student” plan will remain at $5.99. Spotify says it’s increasing prices to “continue to invest in and innovate product features.” Blog Post.
Last July, Spotify raised the prices of its Personal plan to $10.99, Duo plan to $14.99, Family plan to $16.99 and Student plan to $5.99. The company said the market environment has “continued to evolve” since Spotify launched. release at that time.
Spotify did not immediately respond to CNBC’s request for comment.