Spotify is upping the cost of its premium plans in the U.S., in a move that reflects a trend among streaming services to hike prices in pursuit of greater profits.
Spotify, the world's largest music streaming subscription company, is raising its prices again for U.S. premium accounts. The price of ad-free individual plans is going up $1 to $11.99 a month, the company said Monday. Rates for group subscriptions also increasing, with duo plans increasing $2 to $16.99 a month and family plans going up $3 to $19.99 a month. For students, premium prices will be unchanged at $5.99 a month.
Stockholm-based Spotify offers a vast library of music, audiobooks and podcasts on its platform. The service has 615 million users, with 239 million opting to buy a premium subscription to listen to music ad-free. Those who do not want to pay can listen free with ads. The company has been focused on increasing its profitability. The firm cut staff last year after overspending on podcast deals with influencers and newsmakers. In April, Spotify reported its largest quarterly gross profit.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Spotify’s Car Thing will soon transform into Spotify’s Car BrickWill Shanklin has been writing about gadgets, tech and their impact on humanity since 2011. Before joining Engadget, he spent five years creating and leading the mobile technology section for New Atlas. His work has also appeared on SlashGear, TechRadar, Digital Trends, AppleInsider, Android Central, HuffPost and others.
Read more »
Spotify raises U.S. prices of its premium plans in margin pushSpotify raises U.S. prices of its premium plans in margin push
Read more »
Spotify raises prices of premium subscription plansSpotify is raising the prices of its premium subscription plans for the second time in a year.
Read more »
Spotify is increasing U.S. prices for many of its subscription plansRob Wile is a breaking business news reporter for NBC News Digital.
Read more »
Jim Cramer calls Paramount deal a ‘vanity project' and marvels at Spotify’s stock popJim Cramer looks at five stocks outside the CNBC Investing Club’s portfolio.
Read more »
Spotify increasing subscription prices to ‘bring users the best experience’Spotify is raising its prices this summer.
Read more »