Current:Home > reviewsYour streaming is about to cost more: Spotify price hike is on the way says Bloomberg -NextFrontier Finance
Your streaming is about to cost more: Spotify price hike is on the way says Bloomberg
View
Date:2025-04-15 13:07:22
Spotify is planning another subscription price hike, according to a Bloomberg News report that cites people familiar with the matter.
Bloomberg says the streaming service plans to raise prices by about $1 to $2 per month by the end of April in five markets, including the United Kingdom, Australia and Pakistan, with a U.S. price hike set to follow "later this year."
This would be the second U.S. price hike within the past year for Spotify, which raised the monthly rate for its individual Premium plan from $9.99 to $10.99 in July.
The company declined to comment on Bloomberg's report when contacted by USA TODAY.
Why is Spotify raising prices?
Bloomberg reports that the price hike will help cover the cost of audiobooks, a new Premium feature that launched late last year. Spotify offers up to 15 hours of audiobooks per month, with over 200,000 titles available.
How much is a Spotify monthly subscription?
A Spotify Premium subscription in the U.S. currently costs $10.99 per month for an individual listener, $14.99 per month for the "Duo" plan with two accounts, or $16.99 per month for a family plan with up to six accounts. Students have access for $5.99 per month.
Bloomberg reports that the company will be introducing a new basic tier that will offer music and podcasts, but no audiobooks, at the current $11 monthly rate per individual plan.
When was the last Spotify price hike?
Spotify last announced a $1 to $2 price hike in July of 2023. Existing subscribers were given a one-month grace period before the new rates went into effect.
How to find your Spotify Daylist:Changing playlists that capture 'every version of you'
Spotify stock price
The company's stock price jumped after the report, trading as high as $293 on Wednesday before ending the day at $291.77, up 8.2%.
veryGood! (416)
Related
- 'Squid Game' without subtitles? Duolingo, Netflix encourage fans to learn Korean
- Searching for the missing on Maui, some wait in agony to make contact. And then the phone rings.
- Lawsuit targets Wisconsin legislative districts resembling Swiss cheese
- As death toll from Maui fire reaches 89, authorities say effort to count the losses is just starting
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- Streamers beware: It's not just Netflix and Disney. A password sharing crackdown is coming.
- Robert De Niro’s Daughter Shares Heartbreaking Message on Late Son Leandro’s 20th Birthday
- Mexico investigates 4th killing at Tijuana hotel frequented by American accused of killing 3 women
- FACT FOCUS: Inspector general’s Jan. 6 report misrepresented as proof of FBI setup
- Maryland angler wins world-record $6.2 million by catching 640-pound blue marlin
Ranking
- The Grammy nominee you need to hear: Esperanza Spalding
- Body of man found floating in Colorado River in western Arizona city
- Seattle Mariners fan surprises Félix Hernández at team's Hall of Fame ceremony
- Move over, 'Barbie': Why 'Red, White & Royal Blue' is the gayest movie this summer
- Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
- Tennessee agents investigate the death of a man in Memphis police custody
- Shanna Moakler Shares Her Dad Has Died Months After Her Mom's Death
- Violent threats against public officials are rising. Here's why
Recommendation
Google unveils a quantum chip. Could it help unlock the universe's deepest secrets?
Former curator sues Massachusetts art museum for racial discrimination
Illinois Supreme Court upholds state's ban on semiautomatic weapons
Former MLB slugger José Bautista signs 1-day contract to retire with Toronto Blue Jays
The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
Illinois doctor arrested after allegedly recording female employees using the restroom
Polish government plans referendum asking if voters want ‘thousands of illegal immigrants’
Top lawyer at Fox Corp. to step down after overseeing $787M settlement in Dominion defamation case