Spotify raises worth of premium subscription service in additional than 50 international locations

Spotify is elevating the worth of its ad-free premium service in additional than 50 international locations, together with the US, UK and Ireland.

The music-streaming firm, which has greater than 200m Premium subscribers, mentioned the transfer will lead to a $1 (78p) improve for US-based plans.

This means the worth of a single plan will now begin at a month-to-month price of $10.99 (£8.56), duo at $14.99 (£11.68), the household plan at $16.99 (£13.29) and the scholar plan at $5.99 (£4.67).

The worth of UK-based plans is ready to extend by £1, based on expertise news webiste The Verge.

A complete of 53 international locations might be affected by the worth hike, together with Spain, Australia, Canada and France.

The firm mentioned present subscribers might be notified one-month earlier than worth modifications come into impact.

It comes as the opposite streaming companies have additionally raised costs attributable to rising stress from buyers to spice up profitability after years of rising person numbers.

Services from Apple and Amazon have elevated costs this yr, whereas YouTube additionally hiked costs final week on its month-to-month and annual premium plans within the US, the primary time because the subscription service was launched in 2018.

In current months, Spotify has laid off hundreds of staff and restructured the podcast unit, which it had constructed up with billions of {dollars} in funding, with the intention to enhance revenue.

The Sweden-based firm mentioned Premium subscribers must change to their free ad-supported service if they don’t want to pay the upper payment.