Spotify raises price of premium subscription service in over 50 countries Tech News

Spotify is raising the price of its ad-free premium service in more than 50 countries, including the US, UK and Ireland.

The music streaming company, which has more than 200 million premium subscribers, said the move would result in a $1 (78p) increase in US package prices.

That means plans start at $10.99 (£8.56) per month for a single person, $14.99 (£11.68) for a two-person plan, $16.99 (£13.29) for a family plan and $5.99 (£4.67) for a student plan.

According to tech news site The Verge, the price of the UK plan will rise by £1.

A total of 53 countries will be affected by the price increase, including Spain, Australia, Canada and France.

Existing subscribers will be notified one month before the price change takes effect, the company said.

At the same time, other streaming services have raised prices as subscriber numbers have grown over the years and investor pressure has mounted to improve profitability.

Both Apple and Amazon’s services have raised prices this year, while YouTube last week raised prices on its monthly and annual premium plans in the U.S. for the first time since launching its subscription service in 2018.

In recent months, Spotify lay off hundreds of employees And reorganized the podcasting division that invested billions of dollars to improve profits.

If premium subscribers don’t want to pay more, they’ll have to switch to the free, ad-supported service, the Sweden-based company said.

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