Spotify Premium has hiked cost for its plan in the US after 12 years.
The company announced on Monday that the monthly subscription fee will now be $10.99.
Ever since its 2011 US launch, Spotify’s Premium subscription has cost $9.99.
The major music streaming service announced that its main premium ad-free subscription plan will increase from $9.99 per month to $10.99 in the United States, while its Duo plan will increase by $2 to $14.99.
The company boasts that it has 500 million users worldwide, 40% of which are premium subscribers.
The student plan also sees a monthly increase of a dollar, to $5.99, while the family plan sees a $1 increase to $16.99.
Spotify has confirmed that it will be raising its costs in dozens of territories, including much of the European Union (EU), the United Kingdom, and portions of South and Central America, Asia, and Oceania as it is not just restricted to the U.S. market.
“So that we can keep innovating, we are changing our Premium prices across a number of markets around the world,” the company wrote in a post.
YouTube also raised rates last week on its monthly and annual premium plans in the U.S. for the first time since the subscription service’s introduction in 2018 in competition with rivals from Apple, Amazon, and Tidal.
