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Streaming providers have been getting dearer, and Spotify is subsequent in line.
Beginning in February, the value of ad-free particular person plans will rise by $1 to $12.99 per 30 days, the corporate stated Thursday. The final time the value was raised was in June 2024, when premium plans had been bumped from $10.99 to $11.99.
“Occasional updates to pricing throughout our markets replicate the worth that Spotify delivers, enabling us to proceed providing the absolute best expertise and profit artists,” wrote the corporate in a launch.
The greater value will take impact within the U.S., Estonia and Latvia.
This new fee comes after a trademark week for the streaming service. Main as much as the Golden Globes, Spotify introduced an enlargement of its podcasting efforts. The corporate unveiled a brand new “video first” podcasting studio in Hollywood and is rising its creator program by making it simpler for podcasters to earn money on the platform.
The evening of the awards present, the Spotify-produced podcast, Amy Poehler’s “Good Hold,” introduced residence the inaugural podcast award. After the ceremony, the corporate additionally premiered its first-ever video podcast, accessible for streaming on Netflix. Final fall, the streamers first introduced the partnership between the Ringer and Netflix, which makes Spotify’s video podcasts simply as accessible as Netflix’s TV reveals and flicks.
On the prime of the yr, founder Daniel Ek additionally moved from his CEO place to government chairman. Spotify named two co-CEOs, Gustav Söderström and Alex Norström.
Based in 2006, Spotify has turn into the world’s hottest audio streaming subscription service with greater than 713 million customers. The streamer, based mostly in Sweden, is offered in additional than 180 markets and has a library of over 100 million tracks, podcasts and audiobooks. Spotify shares had been down roughly 21% early Thursday at about $508.
Spotify’s major competitor, Apple Music, presently gives an analogous ad-free particular person plan at $10.99 a month.
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