Spotify, the biggest streaming service by both listeners and subscribers, has a free tier supported by advertising that allows anyone to listen to music and podcasts free with restrictions, like blocking users from selecting specific tracks to hear on its phone app when you're on the go. "We offer a variety of subscription plans tailored to our users' needs, and we occasionally update our prices to reflect local macroeconomic factors and meet market demands while offering an unparalleled service," Spotify said in a statement.
The company will report its quarterly earnings early Wednesday morning, when it is likely to address the price increases. Spotify confirmed the price increases in the US, the UK and select other markets. According to reports, prices are increasing by 1 to 2 British pounds and 1 to 3 euros per month, depending on the plan. In the UK, Spotify is raising the cost of its student, duo and family plans, with other plans going up in price in European countries as well. People currently subscribed to a family premium plan may get one additional month at the current $15 price before the increase goes into effect for their June billing cycle. In the US, premium family plans are the only ones getting pricier, increasing $1 a month to $16 as of Friday. Spotify is raising prices on some of its premium subscriptions in the US, the UK and Europe, starting Friday.
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