Sorry Spotify Premium users, prices are increasing.
Today, the music streaming giant announced that the price of a Premium membership will jump from $9.99 to $10.99 a month. This is its first price increase in 12 years. Not only will the price of a single Premium membership go up, but the cost of a duo membership will increase from $12.99 to $14.99 a month, a family membership from $15.99 to $16.99, and a student membership from $4.99 to $5.99. Prices will also go up similarly internationally.
According to a FAQ about the price increases, subscribers will have a one month grace period before the new prices go into effect.
SEE ALSO: Now you can celebrate 'Barbie' with a Spotify Easter egg"The market landscape has continued to evolve since we launched. So that we can keep innovating, we are changing our Premium prices across a number of markets* around the world," the company said in a press release.
Spotify is the latest of its competitors, which include Apple, Amazon, Tidal, and YouTube Music Premium, to raise the price of a single subscription to $10.99 a month. If you're looking to spend less than that on a music streaming subscription, you're fresh out of luck.
