The audio streaming service Spotify is raising the price for the ‘Premium Individual’ subscription from EUR 9.99 to EUR 10.99 per month. The reason given by the provider is increased operating costs. Existing customers must continue to pay the old price until November.
For new customers, the price applies from Thursday 20 July. The provider announced this in an email on Thursday. “This is our first-ever price change for this plan and is necessary due to our increased operating costs,” the statement read.
If you want to keep the “Premium Individual” subscription, you must – in contrast to many other providers – explicitly agree to the new price by 30 September at the latest. You can do this via your own Spotify account. Otherwise, the subscription will be canceled and the account will be switched to the free service with ads on the November billing date.
More than 500 million users worldwide
According to the email, the provider hopes that many people will continue to use its service despite the price increase. With Spotify, DRM-protected music tracks from labels such as Sony and Universal, as well as podcasts and audiobooks, can be listened to and/or downloaded to your Internet-connected digital devices. Last year, the streaming service had 515 million users worldwide, including 210 million paying users. Nevertheless, the company recorded a loss of 225 million euros in the first quarter of 2023.
With the subscription “Premium Individual” music can be listened to without commercial breaks and also offline. ‘Individual’ means it’s an offer for one account – as opposed to ‘Duo’ or ‘Family’.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
