Spotify Is , Raising Its Prices.<br />Beginning July 24, new subscribers <br />will have to pay $10.99 a month for Spotify's ad-free premium plan, CNN reports.<br />Current subscribers will receive a "one-month grace period before the new price becomes effective," the company said.<br />The streaming service's other tiers will also cost an additional $1 each month, with the exception of Duo, which will be $2 more.<br />The free plan, which includes ads, <br />will still be offered.<br />Spotify says that the price increases <br />"will help us continue to deliver value <br />to fans and artists on our platform.".<br />Company shares rose 1% in premarket <br />trading on July 24, CNN reports.<br />A recent earnings report revealed that Spotify's global users increased <br />15% year-over-year.<br />However, it also sustained an <br />operating loss of $173 million and let go <br />of 6% of its workforce earlier in 2023.<br />Other streamers to have raised their <br />prices in recent months include Disney+, <br />Max, Netflix, Paramount+ and Peacock.
