Following a Golden Globe win and a Netflix premiere, Spotify is raising its prices

Streaming services person been getting much expensive, and Spotify is adjacent successful line.

Starting successful February, the terms of ad-free idiosyncratic plans volition emergence by $1 to $12.99 per month, the institution said connected Thursday. The past clip the terms was raised was successful June 2024, erstwhile premium plans were bumped from $10.99 to $11.99.

“Occasional updates to pricing crossed our markets bespeak the worth that Spotify delivers, enabling america to proceed offering the champion imaginable acquisition and payment artists,” wrote the institution successful a release.

The higher terms volition instrumentality effect successful the U.S., Estonia and Latvia.

This caller complaint comes aft a hallmark week for the streaming service. Leading up to the Golden Globes, Spotify announced an enlargement of its podcasting efforts. The institution unveiled a caller “video-first” podcasting workplace successful Hollywood and is increasing its creator programme by making it easier for podcasters to marque wealth connected the platform.

The nighttime of the grant show, the Spotify-produced podcast, Amy Poehler’s “Good Hang,” brought location the inaugural podcast award. After the ceremony, the institution besides premiered its first-ever video podcast, disposable for streaming connected Netflix. Last fall, the streamers archetypal announced the concern betwixt The Ringer and Netflix, which makes Spotify’s video podcasts conscionable arsenic accessible arsenic Netflix’s TV shows and movies.

At the apical of the year, laminitis Daniel Ek besides moved from his CEO presumption to enforcement chairman. Spotify named 2 co-CEOs, Gustav Söderström and Alex Norström.

Founded successful 2006, Spotify has go the world’s astir fashionable audio streaming subscription work with much than 713 cardinal users. The streamer, based successful Sweden, is disposable successful much than 180 markets and has a room of implicit 100 cardinal tracks, podcasts and audiobooks. Spotify shares were down astir 19% aboriginal Thursday astatine astir $511.

Spotify’s main competitor, Apple Music, presently offers a akin ad-free idiosyncratic program astatine $10.99 a month.