Spotify Premium subscribers will soon have to pay more for their subscriptions. The audio streaming platform recently announced that it is updating the prices for its Premium plans for certain regions.
The price hike will affect subscribers in South Asia, the Middle East, Africa, Europe, Latin America, and the Asia-Pacific region. Over the coming month, the company will be sending out emails to the affected users explaining the changes.
It is worth noting that while Spotify did not list out the specific countries affected by the price hike, it has updated its website to reflect the new pricing. For us Malaysians, the Individual Plan will now cost RM17.50 per month. The Student and Family tiers will be priced at RM9.50 a month and RM27.90 a month respectively. Meanwhile, the Duo Plan will now cost RM24.50 per month. Current subscribers will see the new rates starting next month’s billing. Previously, the plans were priced at RM15.90, RM8.50, RM24.90, and RM21.50 a month respectively.
Spotify did not offer an explanation for the price hike and only stated that it wants to continue innovating on its product offerings and features. However, this change is likely due to the fact that the company’s earnings fell short of expectations despite reporting an increasing number of Spotify Premium subscribers.
(Source: Spotify [1], [2], GSMArena)
