UK prices will rise by £1 a month, to £10.99 for an individual plan, £14.99 for a premium duo plan and £17.99 for a family plan.
The price of a student plan remains unchanged at £5.99.
The move follows other streaming services which have also increased subscription costs.
Similar price hikes also apply to the US, Canada and 49 other territories.
In the US, the cost will go up from $9.99 to $10.99 (£8.57) for those with an individual plan.
The premium duo plan will increase from $12.99 to $14.99, the family plan from $15.99 to $16.99, and the student plan from $4.99 to $5.99.
"So that we can keep innovating, we are changing our Premium prices across a number of markets around the world," the music streaming service said on Monday.
Spotify users in the US and the UK face higher price tags for the platform’s premium plans, along with dozens of other countries.
The music-streaming company on Monday raised those subscription fees as it looks to boost profits in an uncertain economy.
It translates to a $1-to-$2 increase for Spotify's U.S. premium plans, which will now range between $5.99 and $16.99.
In a statement, the company said:
“These updates will help us continue to deliver value to fans and artists on our platform.”
Spotify’s decision to raise subscription prices is driven by a combination of factors. The company acknowledges the ever-changing and developing market and the need to keep innovating to provide the best possible experience for its users. In a blog post, Spotify stated that the price increase would help them continue delivering value to both fans and artists on their platform. Record industry pressure has also played a role in this decision.
Apple Music offer Lossless and Dolby Atmos support at a similar price point, giving users access to high-fidelity music experiences.
The lack of these features in the newly priced Spotify Premium plan has led some users to feel that the service isn’t worth its cost.
Spotify has reported an impressive global user base of 515 million in over 180 markets, and about 41% of these users are paying for the Premium subscription. This goes to show the popularity and demand for Spotify’s ad-free and offline listening features.
With the price increase, Spotify aims to maintain its growth while continuing to prove a user friendly and worth while audio streaming experience to its subscribers
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