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

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

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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.

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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).

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

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

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

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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.

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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.

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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.

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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.

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