Martin Lewis' team explain how to get around Spotify's latest price hike
It's bad news for music lovers as Spotify has revealed it's upping its prices for the second time in 12 months.
But you guessed it, Martin Lewis' Money Saving Expert (MSE) team is here to explain exactly how you can still save despite the cost going up.
Used by more than 200 million people worldwide, Spotify has revealed this week that the cost to subscribe to its service will rise for the second time in a year, with the Swedish business set to increase prices.
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This is on top of the £1 a month increase in July 2023.
How much is Spotify upping its price by?
Prices will go up by £1 if you're on the Spotify Premium Individual package, now costing £11.99 instead of £10.99.
For the Premium Duo plan, it's an extra two quid a month.
That's £16.99 instead of £14.99.
And for the Premium Family pack, you're also pay another £2. Prices are moving from £17.99 to £19.99.
It's good news for students, though, with theirs remaining unchanged at £5.99 a month.
For those who use Spotify Standard, the plan remains free but you'll still have to listen to ads and have much less functionality when it comes to navigating and accessing content through the app.
When do the new rates come into effect?
Those who already subscribe will start paying the new rates in May or June, with Spotify telling customers they'll get a month's notice of the change.
New subs will have to pay the new rates from right now.
Thankfully, Lewis' MSE team have offered up a few ways to fight back against the price hike. Like a team of real life Avengers solely looking at keeping cash in your back pocket, they just can't help themselves when it comes to looking after the finances of UK residents.
It comes days after Lewis himself issued a warning to check your payslips to save yet more money every month.
How can you keep the price down?
The MSE team's first tip is to pay upfront if you're on the Spotify Premium Individual plan.
This can save you a staggering £45 a year.
MSE says: "When we checked on Wednesday 10 April, we found Amazon and Currys offering digital gift cards that give you 12 months' of Individual Premium for £99.
"That's a saving of £44.88 compared to paying monthly at the new price.
"You can redeem the gift card in your Spotify account – the prepaid period will start on your next billing date, at which point your regular monthly payments will stop (they'll restart once the 12 months has ended)."
The MSE gang also simply suggest downgrading your package. Do you really need to pay what you do? Have things changed in the time since you took the package out and you've just not bothered to look? It's worth looking at.
The third tip is to look at going with the free package Spotify gives you.
"Spotify has confirmed that it will continue to offer free access to those who don't mind ads and less control over what they listen to. Just be aware that this service is limited; most songs, for example, will be played on shuffle, and you'll have to listen to adverts," they say.
In an email to customers, Spotify said: “We’re increasing the price of [subscriptions] so that we can continue to invest in and innovate our product offerings and features, and bring you the best experience."
Topics: Spotify, Music, Money, Martin Lewis, Cost of Living, Hacks
Tom Earnshaw