Spotify increases prices for premium subscription plans in the US

Spotify is making its prices higher in the United States for many of its subscription plans. The company says it needs to do this to improve its services and give users a better experience. Here are the changes: Premium plan will cost $11.99 instead of $10.99. The Duo plan for two users in the same house will cost $16.99 instead of $14.99. The company still has a free plan with ads and a $5.99 plan for students, which will stay the same. This is only the second time Spotify has raised prices in the U.S. The company's CEO, Daniel Ek, mentioned that Spotify is now making a profit, but its user growth was a bit lower than expected. Spotify is trying to make more money from audiobooks to reduce its reliance on music, which costs a lot in royalties. Some U.S. companies are lowering prices because people are spending less due to slower income growth and higher debts. Spotify is telling its U.S. users about the price increase over the next month. The company is raising prices so it can keep improving its services. The new prices for U.S. users will be $11.99 for an Individual plan, $16.99 for a Duo plan, $19.99 for a Family plan, and $5.99 for a Student plan. Spotify is raising prices again to invest more in its services. The cost of the premium plan will be $11.99 per month starting in July, which is $1 more than before. The Duo plan will cost $16.99, and the Family plan will cost $19.99. Spotify is increasing prices to improve its services and give users a better experience. Other streaming companies are also raising prices to make more profit.