It's official: Spotify confirms price increase and this is how the change will affect you.

The music streaming platform recently announced a price increase for its Premium subscription in Spain. Starting in September, it will cost one euro more per month for the same features.

Spotify has shared that it intends to use price increases as a "business tool," although it assures that these increases will be related to platform improvements, in the form of new services or features.

Specifically, the individual subscription to Spotify Premium will cost €11.99 per month.

Within this framework, Spotify's co-president and chief commercial officer, Alex Notström, has now spoken out, stating that the price increases are part of its "toolbox" and will go hand in hand with new services and features that will be integrated into the platform.

This was explained in a statement to the Financial Times, where he specified that although price adjustments are part of the company's "commercial tools," they will be implemented "when they make sense."

In this regard, Notström also assured that Spotify continues working to add value to its platform's services and, thereby, ensure that "the consumer wins," as he specified.

In this regard, he mentioned the intention to add features that provide greater value and "stickiness" for the platform's subscribers, although he did not specify which services might be improved.

Given all this, it's worth noting that Spotify is working on a high-quality option, Spotify HiFi, which it announced in 2021. It would offer CD-quality music in a lossless audio format. However, this option has led to successive delays and has never been released, although references in the code of recent versions of the app suggest its arrival could be imminent.

Instead of this high-resolution version, the company has implemented other new features related to the use of Artificial Intelligence (AI) on the platform, such as the AI ​​DJ . Similarly, it recently added an option to customize transitions between songs, with the Mix feature in the Premium subscription.

It's worth remembering that Spotify is also working on a new Music Pro subscription tier, which would include perks such as higher-quality audio content, remixing tools, and access to concert tickets.

In April of this year, Spotify reached 678 million monthly active users, a figure that grew to 696 million users in July. Considering this growth, the executive explained that they are considering reaching one billion active users as a possible goal.