Spotify has raised the subscription prices for its users amid an increase in revenue in the second quarter of the year. Now the users are told to pay extra $2 for premium duo and for individual plans, out of the total 220 million subscriber base.
Spotify announced a one-month grace period for users to adapt to new pricing changes. The price hikes apply to the US, UK, Canada and 49 other territories, according to Spotify’s second-quarter earnings.
Spotify Subscriptions Have Increased
Spotify’s recent earnings update highlights remarkable growth in subscribers and total user base, now reaching 220 million paid subscribers globally, a 17% increase from last year. In the US, the premium duo service is set to rise to $14.99 from $12.99, the family plan from $15.99 to $16.99, and the student plan from $4.99 to $5.99.
Spotify Is Growing
The recent price hike is seen as a positive sign of growth as both the number of free uses and the number of subscribers are increasing gradually. Out of 551 million monthly users, 220 million pay for premium services with numbers expected to rise. The price hikes apply to the US, UK, Canada and 49 other territories, according to Spotify’s second-quarter earnings.
