News
News Categories

Spotify tipped to raise price of Premium plan in the U.S and other countries

By Cookie Monster - on 22 Jul 2023, 9:48am

Spotify tipped to raise price of Premium plan in the U.S and other countries

Spotify is planning to increase the price of its Premium plan based on a report by the Wall Street Journal.

Starting with the U.S next week, Spotify is expected to raise the subscription rate by US$1. The current subscription fee for the Premium plan is S$9.99/month (individual). The price hike is also coming to several other markets "in the coming months".

Spotify's move comes about 9 months after Apple raised the price of Apple Music from S$9.98 to S$10.98. Apple attributed the price hike to the increase in licensing costs.

Besides raising the price of its Premium plan to boost profitability, Spotify is said to be launching a new premium tier (internally known as Supremium) that supports HiFi audio.

Source: Wall Street Journal via 9to5Mac

Join HWZ's Telegram channel here and catch all the latest tech news!
Our articles may contain affiliate links. If you buy through these links, we may earn a small commission.