It might not be music for the ears of many Spotify subscribers. The music and podcast streaming service is increasing the cost of its family plan by $ 1 per month in the United States on Friday, the company confirmed to MarketWatch on Monday. Family plan users in the United States began receiving emails about the pending price hike on Monday, which will see the monthly service which bundles up to six premium accounts for family members to go from $ 14.99 to $ 15.99 per month. This is the only increase that the American Spotify SPOT, -0.12% of listeners will see so far. And there will be a one-month grace period for existing Spotify subscribers before they see their bills increase. UK subscribers, on the other hand, see their family plans soar by three pounds to £ 16.99 this week. UK Spotify listeners will also see the price of student plans (for those enrolled in an accredited college or university) and duo plans for two people increase by one pound to £ 5.99 and £ 13.99 per month, respectively. . Related: Spotify Goes Into Social Audio With Acquisition Of Sport-talk Apps Plus Some European Countries Like Ireland To See Student And Duo Plans Raise By One Euro To 5 respectively , € 99 and € 12.99 per month. The Family Plan goes from € 14.99 to € 17.99 per month in Europe. And some subscribers in Asian and South American countries will also see prices increase. “We offer a variety of subscription plans tailored to the needs of our users, and from time to time we update our prices to reflect local macroeconomic factors and meet market demands while providing unparalleled service.” Spotify, which is due to release its latest results on Wednesday, reported more than 150 million premium subscribers in the fourth quarter, and the total number of monthly active users increased 27% year-on-year to 345 million of people. But despite these impressive numbers, the company’s average revenue per user fell 8% in the fourth quarter. Spotify shares have fallen more than 6% so far this year. .
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