Spotify raises premium subscription price for millions

Streaming giant Spotify is set to raise its prices for more than 200 million ad-free subscribers for the first time in a decade. 

In the US, the cost will increase from $9.99 to $10.99 for those with an individual plan. Similar price hikes will follow in the UK, Canada, Australia and 49 other territories. 

The streaming service said there will be a price hike “so that we can keep innovating, we are changing our Premium prices across a number of markets around the world.”

“These updates will help us continue to deliver value to fans and artists on our platform.”

In the UK, premium subscribers will pay an extra £1 per month, according to The Verge. 

Spotify said users “will be given a one-month grace period before the new price becomes effective, unless they cancel before the grace period ends”.