Spotify raises premium subscription price for millions
The single-account premium plan at Spotify is increasing for the first time since 2011 and other services are rising as well.

The UK subscriptions will rise by £1 a month to £10.99 for an individual plan, £14.99 for a premium duo plan, and £17.99 for a family plan.

£5.99 remains the price of a student plan.

Subscription costs have also increased for other streaming services.

US, Canadian, and 49 other territories also see price increases.

Those with an individual plan in the US will pay $10.99 (£8.57) instead of $9.99.

There will be an increase in the premium duo service rate from $12.99 to $14.99, a rise in the family plan rate from $15.99 to $16.99, and an increase in the student rate from $4.99 to $5.99.

Spotify reported beating forecasts by adding 36 million monthly active users between April and June, bringing the total to 551 million. 220 million of those subscribers pay a subscription fee.

In the same period last year, the company lost €90 million in pre-tax losses, but that increased to €241 million (£207.3 million) this year. Analysts had predicted €3.2 billion in sales, but sales rose to €3.1 billion instead.

Daniel Ek, Spotify’s CEO, said the company had a “very strong quarter”, even though its share price dropped by over 11%.

A key role that Artificial Intelligence (AI) might play in the future include summarizing lengthy podcasts or lowering the cost and difficulty of producing audio advertisements, according to Mr Ek.

Spotify introduced its “AI DJ” in February, which promised a “curated line-up of music coupled with commentary” delivered “in your pocket”.

Spotify announced on Monday that it was raising prices “to provide value to fans and artists”.

There will be a grace period of one month before the new price becomes effective, unless users cancel before then.

In January, the music giant cut 6% of its staff to improve efficiency.

With the Duchess of Sussex’s podcast among the high-profile casualties, Spotify has reduced its reliance on celebrity signings and expensive original content.

A $20 million exclusive deal was reportedly signed between Meghan Markle and Prince Harry in 2020.

It ended last month when Archewell Audio, which is owned by the duke and duchess, parted ways with Spotify.

Last year, a deal with Barack and Michelle Obama’s production company ended.

The single-account premium plan at Spotify is increasing for the first time since 2011 and other services are rising as well.

The UK subscriptions will rise by £1 a month to £10.99 for an individual plan, £14.99 for a premium duo plan, and £17.99 for a family plan.

£5.99 remains the price of a student plan.

Subscription costs have also increased for other streaming services.

US, Canadian, and 49 other territories also see price increases.

Those with an individual plan in the US will pay $10.99 (£8.57) instead of $9.99.

There will be an increase in the premium duo service rate from $12.99 to $14.99, a rise in the family plan rate from $15.99 to $16.99, and an increase in the student rate from $4.99 to $5.99.

Spotify reported beating forecasts by adding 36 million monthly active users between April and June, bringing the total to 551 million. 220 million of those subscribers pay a subscription fee.

In the same period last year, the company lost €90 million in pre-tax losses, but that increased to €241 million (£207.3 million) this year. Analysts had predicted €3.2 billion in sales, but sales rose to €3.1 billion instead.

Daniel Ek, Spotify’s CEO, said the company had a “very strong quarter”, even though its share price dropped by over 11%.

A key role that Artificial Intelligence (AI) might play in the future include summarizing lengthy podcasts or lowering the cost and difficulty of producing audio advertisements, according to Mr Ek.

Spotify introduced its “AI DJ” in February, which promised a “curated line-up of music coupled with commentary” delivered “in your pocket”.

Spotify announced on Monday that it was raising prices “to provide value to fans and artists”.

There will be a grace period of one month before the new price becomes effective, unless users cancel before then.

In January, the music giant cut 6% of its staff to improve efficiency.

With the Duchess of Sussex’s podcast among the high-profile casualties, Spotify has reduced its reliance on celebrity signings and expensive original content.

A $20 million exclusive deal was reportedly signed between Meghan Markle and Prince Harry in 2020.

It ended last month when Archewell Audio, which is owned by the duke and duchess, parted ways with Spotify.

Last year, a deal with Barack and Michelle Obama’s production company ended.