This might not be music to many Spotify subscribers’ ears.
The music and podcast streaming service is raising the cost of its Family Plan by $1 a month in the U.S. this Friday, the company confirmed to MarketWatch on Monday. Family Plan users in the U.S. began receiving emails Monday about the pending price hike, which will see the monthly service that bundles up to six premium accounts for family members move from $14.99 to $15.99 a month.
That’s the only increase that American Spotify SPOT,
U.K. subscribers, on the other hand, are seeing their Family Plans jump by three pounds to £16.99 this week. British Spotify listeners will also see the price of Student Plans (for those enrolled in an accredited college or university) and two-person Duo Plans increase by one pound to reach £5.99 and £13.99 a month, respectively.
The Verge reported that some other countries can expect to see price hikes, as well. Some European countries including Ireland will see Student and Duo plans increase by one euro to hit €5.99 and €12.99 a month, respectively. And the Family Plan is rising from €14.99 to €17.99 a month in Europe, according to The Verge.
Spotify didn’t immediately confirm The Verge report about countries outside of the U.S. and the U.K. to MarketWatch, but shared the following statement:
“We offer a variety of subscription plans tailored to our users’ needs, and we occasionally update our prices to reflect local macroeconomic factors and meet market demands while offering an unparalleled service.”
Spotify, which is due to report its latest earnings this Thursday, reported more than 150 million premium subscribers in the fourth quarter, and its total monthly active users were up 27% year over year to 345 million people. But despite those impressive figures, the company’s average revenue per user dropped by 8% in the fourth quarter.
Shares for Spotify are down more than 6% so far this year.