Spotify has quietly increased its Premium Individual plan from €10.99 to €11.99 (about ₦21,250) per month in many markets, including Africa—but for now, Nigeria’s local rate of ₦1,300 remains unchanged. If your debit or virtual card is paired to a foreign country, you could soon see the new ₦21K‑plus charge unless Spotify maintains the Naira-only plan for Nigeria.

🎧 Naija Edition: How This Affects Spotify Premium Users

• Spotify don send mail to international users—if your account bank details are tied to Europe, Ghana, or South Africa, check your email, as September billing will reflect the €1 increase.
• Converted to Naira using the official Central Bank average rate (about ₦1,531 per USD):
  • New Price ≈ €11.99 × ₦1,531 ≈ ₦21,225/month
  • (Old rate €10.99 × ₦1,531 ≈ ₦18,665/month)
    So an extra ₦2,560/month for non‑Naija‑tied users.
• For those still paying ₦1,300 (Premium Individual in Nigeria): you da still dey the cheapest plan in the world—Spotify has not reassigned that price to anyone yet. It’s still the cheapest price for Africans.

Why Spotify Did This—We Naija Need to Understand

1. To sweeten its balance sheet
   Spotify ended Q2 2025 with lower profits than Wall Street forecast. Shares dropped nearly 12% following its earnings release. After the price hike news, shares bounced back about 5–8%.
2. Weak naira is one issue, but Spotify said this hike covers Africa, not just Nigeria’s forex reach. So, even countries with much stronger currencies are affected equally.
3. Subscription fatigue is low globally—Spotify isn’t expecting many cancellations. Past hikes in other countries led to minimal churn, boosting average revenue per user (ARPU).