Music streaming service Spotify has announced an increased subscription rate, with premium users now required to pay between €1 and €3 more per month.
For over 10 years a standard Spotify subscription has cost just under €10. New subscribers will now have to pay €10.99 for a Spotify Premium Individual subscription.
"As we continue to grow our platform, we are updating our Premium prices so that we can keep innovating in changing market conditions. These updates will help us continue delivering value to fans," Spotify announced on its website.
Those sharing the Duo subscription will have to pay €2 extra and the Family subscription will become €3 more expensive. Student subscriptions will go up as well: from €4.99 to €5.99.
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Those signing up for the service now will immediately pay the new prices but existing subscribers will first receive an email with information about the new prices. They will have one month to decide whether to cancel their subscription or continue at the higher rate.
The price hike – the first in 12 years for Spotify's basic premium subscription – does not come as a complete surprise after several other streaming services already raised their prices recently: Apple led the charge in October last year, followed by Amazon in January. This month, Tidal and YouTube Music Premium announced price increases of one dollar each for a basic subscription.
