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Monday, June 3, 2024

SPOTIFY PLANS ANOTHER PRICE INCREASE

Spotify has announced that, starting in July, another price increase will affect subscribers in the U.S. The news follows a boost to $10.99 for individual premium subscribers in July 2023, the first increase since the DSP launched in 2011 at the subscription price of $9.99.

Starting next month individual premium subscribers will pay $11.99 in the U.S. Duo plans will go from $14.99 to $16.99, while the family plan faces the biggest increase, from $16.99 to $19.99. The student plan will remain at $5.99.

Music stocks including WMG and UMG received boosts in trading as a result of the announcement, with Spotify stock increasing as much as 4% on Monday (6/3). The streamer's stock has doubled since June 2023.

TAGS: Spotify | subscription | stock | UMG | WMG
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