Spotify to increase prices for families and students

Telegraph 27 Apr 2021 08:25

Spotify is raising prices for some users in the UK, US and parts of Europe, the first time the music streaming company has increased monthly subscription costs in the markets.

In the UK, the company's Premium Student tier will rise from £4.99 per month to £5.99 and its two-person offering Duo will change from £12.99 per month to £13.99, according to an email sent to customers on Monday. 

Those signed up to Spotify’s Premium Family service will foot the largest increase, from £14.99 per month to £16.99. Individual Premium accounts will remain the same price of £9.99. 

Spotify said the changes were “so we can continue to bring you new content and features that you can enjoy both as a couple and as individuals”.

Despite testing higher rates in some markets, this marks the first time the music streaming service has officially raised prices for customers in the UK. It began surveying Britons in March to see how much customers would be willing to pay as it tries to spin a profit.

US users have only been told of increases for the Premium Family tier, while those in a handful of European countries will see similar price rises to the UK.  Spotify, which is valued at $56bn (£40bn), is under pressure both from investors to improve profitability and from the music industry to pay more out to artists.

Continue reading original article...


You may also like