Look Out, Spotify’s Increasing Prices Again

Neil Young’s least favorite streaming service, Spotify, will once again raise the prices of their premium plans in several key markets, including the United States, the United Kingdom, Australia, and more. As Bloomberg reports, prices are set to go up by $1 per month for individual plans and $2 per month for duo or family plans.

According to Bloomberg, Spotify also plans to launch a new basic tier. Set at $11 per month, the plan is similar to the service’s other premium options, though it excludes access to audiobooks (a feature they added in November 2023).

This round of price hikes echoes Spotify’s actions last year, when the streamer also raised the price of premium plans by $1 in North and South America, Europe, and Asia in July of 2023. As for when the new pricing will take effect, Spotify has not yet announced any specific dates.

The decision also comes in the wake of continuing pressure and criticism about Spotify’s pitiful payouts. Rightsholders like Universal Music Group and Warner Music Group have called for all streaming services — not just Spotify — to consider charging more, citing the fact that pricing for music streaming services has lagged behind inflation. For their part, Spotify turned a profit for the first time in a fiscal year in the third quarter of 2023 and now boasts over 600 million users.

In October 2023, Spotify announced a restructuring of their royalty payment model, notably requiring artists to hit a minimum threshold of streams before receiving compensation. In the same announcement, the company pledged to crack down on fraudulent and “non-music audio content.”

In lighter news for Spotify users, both Neil Young and Joni Mitchell have returned to the platform after an extended boycott. So, at least you can stream “Heart of Gold” or “Big Yellow Taxi” to ease any pain brought on by higher prices.