Spotify Announces Price Hike Of Up To 28% In India

Digital music platform Spotify has announced price hikes for its various premium listening plans in India, according to the data on the app.

The individual listening plan has undergone a hike of 16.11% from Rs 119 per month to Rs 139 per month. The duo plan, which is a package of two premium accounts, will cost Rs 179 per month, which is 20.13% higher than its old price of Rs 149 per month.

The family plan (offering up to six premium accounts) has gotten the sharpest hike of 27.93% and is now worth Rs 229, compared to the old price of Rs 179 per month.

The most economical student plan, which used to be Rs 59 per month will now be worth Rs 69 per month.

This is the music platform's first ever price hike since it entered India back in 2019.

Spotify Technology SA shares rose after the company announced it is raising premium subscription prices across many markets outside the US, Bloomberg reported.

Spotify shares jumped 6.9% in New York to $670.37. They have risen about 50% so far this year, according to Bloomberg.