Spotify Announced Subscription Price Rise: Here’s How Much More You’ll Pay

But in an attempt to adjust the business model of its company, Spotify has again hiked the price of a premium membership subscription plan. It is now the standard plan for s to cost $12. 99, from the $11 a.p. In the world, 99 in selected markets are. But this comes as the streaming giant continues to rely on pricing power for growth.

Spotify increases the price of its subscription plan

A new fuck Spotify has raised its standard monthly subscription plan from one dollar to $12 in the latest move by $1-million. 99. Consumers in the United States, Estonia and Latvia will be affected by the new pricing. When users will notice the change in their individual billing dates from February to February, they will see that it is changing.

Spotify has said that “updated prices and related communications will be sent directly to subscribers by email.” Users do not have to change their billing because the hiked charge is automatically applied during next billing cycle, so users don’t need to make any changes. According to the company, “the price hike is part of its ongoing efforts to provide a better experience for listeners,” it says. The higher subscription prices are expected to reinvested revenue from the platform improvements, creator support and feature development.

Spotify says the price hike was a necessity

Spotify has not lowered the price of its subscription plans for this is the first time it has ever done so. It has done so much more than it should have been expected to do,’ . Nevertheless, users have shown little resistance to the repeated price hikes. This is a testament to the platform’s dominance in the audio streaming industry.

The company had not seen meaningful customer churn even after adjustments across over 150 countries, finance chief Christian Luiga said last year. The company’s resilience has urged its efforts to maintain existing subscribers rather than aggressively pursue new ones. This approach also bolsters the tech giant’s revenue while the platform continues to grow globally as it expands. Similarly, Spotify recently reported its subscribers rose twelve percent to 281 million in the third quarter of 2013, while monthly active users reached 713million for reference.

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