Spotify Premium will increase to $10.99/month this week according to a new report
As all other major western music streaming services raise the price of their base subscription by $1, we’ve been expecting this from Spotify.
The news comes from a report from The Wall Street Journal, who says the price increase is due this week. Over the past year, we’ve seen YouTube Music, Apple Music, Amazon Music and Deezer all raise their base subscription from $9.99 per month to $10.99 per month.
According to The Wall Street Journal, the change in price is coming this week to Premium Individual subscriptions in the US and will match the one dollar increase we’ve seen elsewhere – from $9.99 per month to $10.99 per month. Spotify has officially confirmed the increases in prices and has said it’s increasing prices across the board by $1.
In the US, Spotify’s flagship Premium subscription is going up by $1 to $10.99 (see below). Premium Duo will now cost $14.99 (up from $12.99). Premium Family now costs $16.99 (up from $15.99), while Spotify Premium Student costs $5.99 per month (up from $4.99).
Music Business Worldwide
We are also likely to see similar price rises in “dozens of markets” around the world in the coming months.
This is good news for rights holders, which will undoubtedly be the way Spotify addresses the news – as a positive for artists. Spotify pays artists a roughly 70/30 revenue split, based on subscription and advertising revenue. If subscribers are paying more for Spotify Premium, more money will end up in the pockets of artists.