For the first time since 2011, Spotify is boosting the cost of its single-account premium plan while also increasing the cost of other services.
Subscription prices in the UK will increase by £1 per month to £10.99 for a single plan, £14.99 for a premium pair plan, and £17.99 for a family plan.
The cost of the student plan stays the same at £5.99.
It follows a trend of other streaming providers that have raised their subscription prices.
The US, Canada, and 49 other territories all experience similar price increases.
For individuals who have an individual plan, the price will increase from $9.99 to $10.99 (£8.57) in the US.
The price of the family plan will go up from $15.99 to $16.99, the premium duo service will go up from $12.99 to $14.99, and the student plan will go up from $4.99 to $5.99.
According to Spotify’s most recent financial statistics, it exceeded expectations by gaining 36 million new monthly active users between April and June, bringing the total to 551 million. 220 million of them are subscribers.
However, compared to a €90 million loss during the same time last year, the company’s pre-tax losses increased to €241 million (£207.3 million) for the three months. Sales increased to €3.1bn, falling short of experts’ forecasts of €3.2bn.
Spotify announced pricing increases on Monday, saying they were necessary “to help us continue to deliver value to fans and artists on our platform.”
