For the first time, the music streaming company Spotify raised its prices on monthly subscriptions for users in the UK, US, and some parts of Europe. The platform has informed all its users through email that from 30th April, there will be some changes to Family, Duo, and Student plans, while prices for Single Spotify Subscriptions will remain the same.
Now, the new Premium Student service for UK users will increase from £4.99 to £5.99 per month, while the couple or Duo subscription will go from £12.99 to £13.99 per month. Spotify’s Premium Family subscribers are the ones that will be affected the most by these changes, as the price for their subscription went from £14.99 to £16.99 per month.
The platform did say that the main reason behind these changes is so that it can continue to bring new content and features to its users. However, this comes just months after the £40bn valued company revealed a loss of £240 million in 2020.
However, despite the loss and youtube being the leading entertainment medium in the UK, the music streaming company still managed to hit the mark of 150 million subscribers in 2020.