Today Spotify announced that it will be raising the price of its plans. This news was first reported over the weekend but was officially announced today.
With this deal, the Single plan will now cost $10.99, the Duo plan will now cost $14.99, the Family plan $16.99, and the Student plan $5.99. This all comes as Spotify laid off 200 employees back in May.
Here is what Spotify said about its new price hike today:
Since launching in 2008, Spotify has innovated and invested to build the best audio experience for you and your favorite artists and creators. We have continually revealed new opportunities for fans and creators to connect through the power of our platform, from discovery tools like our new AI DJ, to fan-favorite shared experiences like Blend and the introduction of podcasts and audiobook content.
With 200+ million Premium subscribers, we’re also proud to be the world’s most popular audio streaming subscription service, giving Premium users access to on-demand and ad-free music listening, offline music downloads, and quality music streaming. The market landscape has continued to evolve since we launched. So that we can keep innovating, we are changing our Premium prices across a number of markets* around the world. These updates will help us continue to deliver value to fans and artists on our platform.
Spotify says current customers will continue to pay their current price for one month after they receive a notice from Spotify about the price hike. New subscribers will see the price hike starting today.
If you are on a free trial you will get the old price for your first bill.
Spotify also says it will honor gift cards even if they were for the old lower price. The good news is they are still being sold on Amazon right now for $99 for 12 months. So hurry before this offer ends.
Here are all the markets that will be impacted by this price hike. *Andorra, Albania, Argentina, Austria, Australia, Bosnia and Herzegovina, Belgium, Bulgaria, Brazil, Canada, Chile, Colombia, Costa Rica, Cyprus, Denmark, Ecuador, Estonia, Spain, Finland, France, United Kingdom, Greece, Guatemala, Hong Kong, Croatia, Indonesia, Ireland, Israel, Iceland, Italy, Lithuania, Luxembourg, Latvia, Monaco, Montenegro, North Macedonia, Malta, Mexico, Netherlands, Norway, New Zealand, Peru, Portugal, Serbia, Sweden, Singapore, Slovenia, Slovakia, San Marino, Thailand, Türkiye, United States, Kosovo.