Daniel Ek, founder and chief govt officer of Spotify, attends the Cannes Lions 2016 on June 22, 2016 in Cannes, France.
Antoine Antoniol | Getty Photographs
Spotify introduced on Monday it’s growing the price of its premium subscription plans within the U.S., marking the Swedish music-streaming firm’s second worth hike in a yr. U.S. Spotify customers can be notified concerning the new change to their subscription over the subsequent month.
Shares of Spotify had been up greater than 5% in premarket buying and selling Monday.
For customers within the U.S., an “Particular person” plan will price $11.99, a “Duo” plan will price $16.99 and a “Household” plan will price $19.99. The “Pupil” plan will nonetheless price $5.99. Spotify mentioned it’s elevating costs so the corporate can “proceed to put money into and innovate on our product options,” in accordance with a weblog put up.
In July of final yr, Spotify elevated the value of its Particular person providing to $10.99, its Duo plan to $14.99, its Household plan to $16.99 and its Pupil providing to $5.99. The corporate mentioned the market panorama has “continued to evolve” since Spotify launched, in accordance with a launch on the time.
Spotify didn’t instantly reply to CNBC’s request for remark.
