Spotify is increasing its single-account premium plan prices in the U.S. and several other countries. Spotify Premium Price increase will go into effect on August 1, 2023, for new subscribers and on September 1, 2023, for existing subscribers.
Spotify has become the world’s most popular audio streaming subscription service platform with 200+ million Premium active subscribers. It gives Premium users access to on-demand and ad-free music listening offline music downloads, and quality music streaming.
According to the company, these rising prices will help them continue to deliver value to the fans and artists on their platform. Spotify users will be given a one-month grace period before the new price becomes effective unless they cancel before the grace period ends.
Their announcement on July 24, 2023, revealed that the Spotify price increase will affect all four Spotify Premium plans offering ad-free listening.
Here are the new monthly prices for U.S. subscribers:
Spotify Premium Duo plan: $14.99 (previously $12.99)
Spotify premium Family price plan: $16.99 (previously $15.99)
Spotify Student plan: $5.99 (previously $4.99)
Why is Spotify Premium increasing in price?
Spotify Premium is increasing in price for several reasons. Initially, the cost of managing business has been increasing for Spotify, as it has for many other companies. This includes things like licensing costs, marketing costs, and the cost of developing new features.
Second, Spotify is trying to offset the increasing competition from other streaming services, such as Apple Music and Amazon Music. These services are also raising prices, so Spotify needs to do the same to stay competitive.
Finally, Spotify is hoping that the price increase will help to generate more revenue, which it can then use to invest in new features and content.
In the words of Spotify’s CEO, Daniel Ek, “As we continue to grow our platform, we are updating our Premium prices so that we can keep innovating in changing market conditions. These updates will help us continue delivering value to fans.”
Is Spotify raising prices for student accounts?
Spotify is generally increasing its premium plan prices and the student plan is no exception. The price of the Spotify Student plan will increase from $4.99 to $5.99 per month in the U.S.
Can 2 users share Spotify Premium?
2 users can definitely share a Spotify Premium if they subscribe to the Spotify Premium Duo plan. This plan costs $14.99 per month and allows two people to have their own separate Premium accounts. Each person on the plan gets their login details, playlists, and personalized recommendations.
Spotify Duo premium plan could be the best option to save money on Spotify. As It allows users to share the cost of a Premium subscription with someone else, while still giving you both of you, your own separate accounts.
How to subscribe to Premium Duo?
Here are the steps that you can follow to subscribe to Premium Duo:
Create a Spotify account if you don’t have one already.
Go to your account settings and click on the “Premium Duo” tab.
Enter your friend or family member’s email address.
Click on the “Send invitation” button.
Your friend or family member will receive an email invitation.
They will need to click on the link in the email to create their own Premium account.
Once they have created their account, you will both be able to start listening to music.
Here are some additional things to keep in mind:
Both you and your friend or family member must live at the same address to be eligible for Premium Duo.
The price of Premium Duo is $14.99 per month.
You can cancel your Premium Duo subscription at any time.
What is the Spotify Premium Family plan?
The Spotify Premium Family plan allows up to 6 family members to listen to music ad-free on any device and have their own separate Premium accounts with their personalized playlists, and recommendations. The plan costs $16.99 per month in the United States.
Here are some of the benefits of the Spotify Premium Family plan:
You can listen to music ad-free on any device.
You can download music for offline listening.
You can create and share playlists with other family members.
You can get personalized recommendations based on your family’s listening habits.
To be eligible for the Spotify Premium Family plan, all family members must live at the same address.
You can invite family members to join the plan by going to your account settings and clicking on the “Family” tab.
If you are looking for a way to save money on Spotify Premium, the Premium Family plan is a great option. It allows you to share the cost of a Premium subscription with up to 5 other people, while still giving you each your own separate account.
What is the reaction of users to Spotify’s surging prices?
The price increase has been met with mixed reactions from Spotify users. Some users have expressed an understanding of the need for a price increase, while others have said that they are considering switching to a different streaming service.
Only time will tell how the price increase will affect Spotify’s subscriber numbers. However, the company is confident that the increase will be “minimally disruptive” to its business.
Spotify’s decision to raise prices comes at a time when the company is facing increasing competition from other streaming services, such as Apple Music, Amazon Music, and Tidal. These services have also been raising prices in recent months.
It will be interesting to see how Spotify’s price increase affects its competitive landscape. The company could see some users switching to a different service, but it could also attract new users who are willing to pay a premium for the convenience and features of Spotify.