Spotify has raised the price of its premium subscription plans in the United States for the second time this year.
Spotify users in the United States will be notified of the new subscription change within the next month.
Spotify shares rose more than 5% in premarket trading on Monday.
For users in the United States, a “Individual” plan costs $11.99. The “Duo” plan will cost $16.99, while the “Family” plan will cost $19.99. The “Student” plan will still be $5.99.
Spotify said it is raising prices so it can “continue to invest in and innovate on our product features,” according to a blog post.
In July 2023, Spotify raised the price of its Individual service to $10.99. It also increased the prices of its Duo, Family, and Student plans to $14.99, $16.99, and $5.99, respectively. According to a press release from the company, the market landscape has “continued to evolve” since Spotify’s launch.
