Spotify is raising prices again

Streaming your favorite music is about to get even more expensive.

Spotify is hiking the cost of its premium service by eight percent, according to a report from Bloomberg.  This is the second time in twelve months that the streaming giant has raised fees.  

In 2023, the company bumped up monthly subscription charges by $2 a month.  

Price increases in the UK, Pakistan and Australia will kick in this month.  U.S. listeners can expect to feel the pinch later this year.  The Swedish music giant also plans to launch a new programming tier that includes music and podcasts, but not audiobooks.

Spotify — which competes with Apple Music and Amazon Music — boasted 236 million daily users as of February. 

The company’s current premium plan costs $10.99 for an individual, $14.99 for two people and $16.99 for family in the United States.

 

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