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Spotify Hikes Prices Again: What Subscribers Need to Know

the spotify logo is lit up on a flat screen tv

NATIONAL NEWS (WDNews) – For the second time in a year, Spotify is raising its price. Starting in July, U.S. subscribers will pay an additional $1 per month for the ad-free premium plan, bringing the total to $11.99 a  month. This marks a 20% price increase over the past two years.

Spotify generated 13.24 billion revenue in 2023, a 12.9% increase year-on-year. Even with such an increase, Spotify has never published a net profit. In 2022, it posted a 532 million dollar loss.

551 million people use Spotify once a month, 220 million are actual subscribers.

Also, Other packages, including split and family plans, are also seeing a price increase. Spotify explains that these price hikes by highlighting their commitment to investing in and innovating features for a better user experience.

Subscribers should expect and watch for the change and evaluate these new prices.