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Spotify hikes Premium subscription prices

The popular music streaming service announced increases up to 20% on subscriptions.

Credit: AP

FILE - The Spotify app on an iPad is pictured, March 20, 2018, in Baltimore. Heardle, the name-that-tune game inspired by the Wordle craze, is being dropped by Spotify less than a year after the music-streaming giant acquired it. “After careful consideration, we have made the difficult decision to say goodbye to Heardle," Spotify said in a statement, Saturday, April 15, 2023. (AP Photo/Patrick Semansky, File)

INDIANAPOLIS — Spotify announced the increased price of its Premium subscriptions Monday.

The popular music streaming service said it's raising the cost in order to "keep innovating," according to the company's blog post.

In the U.S., the Individual plan now costs $10.99 (from $9.99), the Duo plan costs $14.99 (from $12.99), the Family plan costs $16.99 (from $15.99) and the Student plan costs $5.99 (from $4.99).

"These updates will also help us continue to delver value to fans and artists on our platform," Spotify wrote on its blog.

Existing Spotify Premium plan subscribers will be given a "one-month grace period before the new price becomes effective," the company wrote. Charges will increase in over 50 countries.

For more information on the changes, click here.