Here comes more streamflation: Spotify is increasing the prices of its premium, ad-free streaming plans in the U.S. over the next month, the company announced. It’s the third price hike in four years for Spotify in the U.S.
The increase in the U.S. has been expected, after Spotify raised prices the U.K. and Switzerland last fall.
“Occasional updates to pricing across our markets reflect the value that Spotify delivers, enabling us to continue offering the best possible experience and benefit artists,” the company said in announcing the price hikes Thursday.
Under the new U.S. pricing, Spotify individual premium plans will increase from $11.99 to $12.99/month. The Duo (two person) plan is increasing from $16.99 to $18.99/month, and Family increasing from $19.99 to $21.99. Student plans are also increasing from $5.99 to $6.99/month.
SEE ALSO: It’s About Time Spotify Raised Subscription Prices in the U.S. (Opinion)
Spotify said within the next month, Premium subscribers across the U.S. (as well as in Estonia and Latvia) will receive an email explaining the price increase. New subscribers can see the latest pricing at spotify.com/premium.
Separately, effective Jan. 1, Spotify co-founder Daniel Ek stepped down from the CEO role to become executive chairman. The company now has two co-CEOs: Gustav Söderström (formerly chief product and technology officer) and Alex Norström (previously chief business officer).