SPOTIFY has announced a price increase for users of the platform who pay for its Premium service.

In an email to customers this week, Spotify outlined that the price for Premium Individual is set to change from £9.99 per month to £10.99.

Spotify said the reason for the change was “so that we can continue to invest in and innovate our product offerings and features, and bring you the best experience.”

Spotify reveals new price increases for all Premium services

Prices for the Premium service have increased for those who pay for multiple accounts too.

Here are the new prices:

  • Individual (1 Premium account): £10.99
  • Duo (2 Premium accounts): £14.99
  • Family (Up to 6 Premium accounts): £17.99
  • Student (1 Premium account): £5.99

You can find out more about Spotify Premium via the website.

When will the Spotify Premium prices increase?

Spotify has said on its website that the price increases for existing Premium users will take place following a one-month grace period after they receive the email.

The price increase won’t take place if a Premium subscriber cancels before the grace period ends.

The news comes as Netflix also announced price increases last week.

The £6.99 basic tier - ad-free and what we have all been paying for some time - is no longer available.

Now, new or returning subscribers will have to pay £4 more: £10.99.

If you’re on this basic tier already, it will remain the current cost for the time being.

That said, Netflix is now offering a significantly cheaper subscription as well, at £4.99 with adverts.