Spotify Premium price increases from $11.99 to $12.99 per month in the US

Spotify will increase the price of its Premium subscription in the US from next month.

In a message sent to users on Thursday, the streaming giant said the cost of its Premium Individual plan will increase from $11.99 to $12.99 per month, starting with users’ billing cycles in February.

The company offers an ad-supported free service with limited features and a subscription-based paid service that gives access to all functionality, with Premium subscribers accounting for the majority of revenue.

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The company said its Premium subscribers in the US, Estonia and Latvia will receive an email in the coming month explaining what the update means for their subscriptions.

Spotify will also increase prices for its other Premium subscriptions, Billboard reported.

The Premium Family plan will increase by $2, from $19.99 to $21.99. The Premium Duo plan increases from $16.99 to $18.99. The Premium Student plan increases from $5.99 to $6.99, according to Billboard.

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The Spotify logo (Dilara Irem Sancar/Anadolu via Getty Images)

This move marks the latest in a series of price increases the company has made in recent years.

In June 2024, Spotify increased prices for its Premium subscriptions in the US from $10.99 to $11.99. That was the second time in less than a year as the audio streaming giant tried to expand its margins.

SPOTIFY AGAIN RAISES PRICES FOR PREMIUM PLANS IN THE US

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Spotify, which has more than 713 million users, has consistently told customers that the price increases are critical to helping the company invest in and innovate its product offerings and features.

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Before 2024, Spotify raised prices in July 2023, marking the first time Spotify has raised them since the service launched in the US in 2011.