New Spotify subscribers will pay $1 more per month for its ad-free premium plan. Current customers are being given a 1-month grace period.
NEW YORK — Spotify is the latest streaming service to hike its prices.
New subscribers now will pay $1 more per month for its ad-free premium plan, rising to $10.99 per month. Current customers are being given a "one-month grace period before the new price becomes effective,"Spotify's other tiers, like its family and student plans, are also getting a $1 per month bump. The monthly cost of Duo, a plan that lets two people split a premium plan, is rising by $2, to $14.99.
In a release, Sweden-based Spotify said the "market landscape has continued to evolve since we launched" in 2008, and that the price hikes "will help us continue to deliver value to fans and artists on our platform." Subscribers will get an email on Monday alerting them to the new prices.Shares of the company popped more than 1% in premarket trading Monday.
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