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Spotify is increasing U.S. prices for many of its subscription plans

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Rob Wile is a breaking business news reporter for NBC News Digital.

Spotify is increasing its prices in the United States for many of its subscription plans. In a statement on its website, the audio streaming service said the increases were necessary so that it can 'invest in and innovate on our product features and bring users the best experience.' Here are the changes: Premium plan: $10.99 to $11.99.Duo plan, for two users in the same household: $14.99 to $16.99.Family plan, for up to six users in the same household: $16.99 to $19.99.

The company is now consistently profitable, CEO Daniel Ek said during its latest earnings announcement, although its most recent monthly active user growth figure narrowly missed targets. In April, Bloomberg News reported that price increases were coming in part to cover the cost of audiobooks, a service Spotify is trying to boost in part to reduce its reliance on music — royalty payments for which still comprise the largest part of its budget. The increases come as some U.S.

 

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