Spotify will increase the price of their monthly subscription in the United States as early as next week and in several other markets in the coming months according to a Wall Street Journal report. In the U.S., monthly subscriptions now start at $10.99, which is an increase from the previous price of $9.99 per month.
This is seen as a way to increase revenue for the company which is currently the world's largest music streaming platform. The steps taken are in line with those taken by YouTube, Netflix and Apple which have also increased the subscription prices of their services in recent times. It is common in the early stages of streaming services to be offered cheaply before the price is raised after the number of users increases.
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