Spotify To Increase Plan Prices Again

Spotify said it's increasing prices to "continue to invest in and innovate our product features and bring users the best experience."

Spotify announced plans to increase prices again, less than a year after its last price hike across most of its subscription plans.

U.S. subscribers can soon expect to pay $1 more per month for its ad-free premium plan, rising to $11.99 per month. The move marks a 20% increase over the past two years.

Some of Spotify’s other plans will also see price hikes.

The monthly cost of duo, a plan that lets two people split a premium plan, is rising by $2, to $16.99. The family plan is increasing prices by $3 to $19.99 per month.

Spotify said it’s increasing prices to “continue to invest in and innovate our product features and bring users the best experience.”

The latest price hike comes as streaming media companies face rapidly increasing costs of doing business.