Spotify announced Monday that it is raising the prices for its premium paying subscribers, the streaming service’s latest efforts to increase revenue. In a statement, the company said U.S. users will now have to pay $10.99 a month, while subscribers to the Premium Duo plan will face a $2 rise to $14.99 a month. Both the Family and Student plans are going up by $1, to $16.99 and $5.99, respectively. “The market landscape has continued to evolve since we launched,” Spotify said. “So that we can keep innovating, we are changing our Premium prices across a number of markets around the world. These updates will help us continue to deliver value to fans and artists on our platform.” The price rises come after Spotify announced hundreds of job losses in January and a further 200 layoffs in June.
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