Just days after YouTube raised the price of its Premium and Music Premium plans, Spotify has announced a price hike across the board.
Spotify’s Premium Individual plan is going up $1 $10.99 per month, while its Premium Duo plan is jumping $2 to $14.99. The Premium Family and Premium Student plans will now cost $16.99 and $5.99, respectively, an increase of $1 each.
The company says the price increases will help it continue to deliver the content its users want:
Since launching in 2008, Spotify has innovated and invested to build the best audio experience for you and your favorite artists and creators. We have continually revealed new opportunities for fans and creators to connect through the power of our platform, from discovery tools like our new AI DJ, to fan-favorite shared experiences like Blend and the introduction of podcasts and audiobook content.
With 200+ million Premium subscribers, we’re also proud to be the world’s most popular audio streaming subscription service, giving Premium users access to on-demand and ad-free music listening, offline music downloads, and quality music streaming. The market landscape has continued to evolve since we launched. So that we can keep innovating, we are changing our Premium prices across a number of markets* around the world. These updates will help us continue to deliver value to fans and artists on our platform.
To be fair, the increases bring Spotify’s prices in line with its competitors, although Spotify’s audio quality still lags behind other platforms. As a result, Spotify’s service is now less of a good deal than it used to be.