Sorry Spotify Premium users, prices are increasing.
Today, the music streaming giant announced that the price of a Premium membership will jump from $9.99 to $10.99 a month. This is its first price increase in 12 years. Not only will the price of a single Premium membership go up, but the cost of a duo membership will increase from $12.99 to $14.99 a month, a family membership from $15.99 to $16.99, and a student membership from $4.99 to $5.99. Prices will also go up similarly internationally.
According to a FAQ about the price increases, subscribers will have a one month grace period before the new prices go into effect.
"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," the company said in a press release.
Spotify is the latest of its competitors, which include Apple, Amazon, Tidal, and YouTube Music Premium, to raise the price of a single subscription to $10.99 a month. If you're looking to spend less than that on a music streaming subscription, you're fresh out of luck.
