Spotify is becoming more expensive

Spotify is hiking its prices again, as anticipated back in April. The streaming music service announced today that, from next month, its premium plan will cost $11.99 per month, up from $10.99 previously.

The Duo plan will go up to $16.99 for two users ($2 more than before) while the family plan will be $19.99 per month (an increase of $3). The student plan is the only one that will remain the same price at $5.99 per month.

This hike has so far only been announced for the US market, but it will undoubtedly spread across at least Western markets in due course. Interestingly, following this price increase, Spotify will be more expensive than Apple Music in the US - the latter still charging $10.99 and $16.99 for its individual and family plans, respectively.

However, this move from its main competitor may prompt Apple to issue a price hike of its own to once again match Spotify's levels - since selling similar stuff for exactly the same price is what capitalistic competition is all about, apparently.

Spotify has been doing pretty well recently, with 20% higher revenue and 14% more premium subscribers, so it's not a case of a desperate attempt to get more cash - it's more like milking the good times for all they can offer. The service's previous price hike came last July, when the premium plan went from $9.99 to $10.99.

Via