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Streaming apps have grown in popularity over the last few years. These services offer convenient access to streaming entertainment solutions at home and on the go. However, many users have felt the strain of increased subscription prices.
If you’re looking for a way to save money on the cost of your Spotify Premium subscription, we have a hack for you to try.
Spotify Premium now costs more
Spotify has been slow to raise prices compared to many video-based streaming services. But in 2024, Spotify users are paying more than they once were. In July 2023, the company announced upcoming rate increases.
Because of these Spotify subscription price increases, users now pay $1 to $2 more monthly for ad-free music content. While this isn’t a significant increase, it’s one more example of how higher everyday costs impact our bank accounts.
Do this to get a deal on your Spotify Premium subscription
A Premium Individual account costs $10.99 monthly, up $1 from the prior $9.99 monthly fee. If you’re hoping to save money and take advantage of the old rate, you can purchase a Spotify gift card as your payment method to get a discount on an annual Spotify subscription.
You can buy digital and physical Spotify gift cards at retailers like Amazon, Best Buy, Target, and Staples. The popular streaming service sells 12-month gift cards for $99. Take the following steps to apply your gift card toward an annual Spotify subscription:
- Buy a 12-month Spotify gift card.
- Visit Spotify.com/redeem.
- Log in to your Spotify account.
- Enter the code from the back of your physical gift card or virtual gift card.
- Click “Redeem” to apply the gift card to your purchase.
By doing this, you’ll pay $99 for a year for a Premium Individual subscription instead of paying $131.88 in total when paying the monthly subscription fee. That’s a savings of over $30 a year.
If you subscribe to Premium Individual through Google Play, you’ll need to cancel your plan and subscribe as a Premium user directly through Spotify to use this workaround. Unfortunately, this hack won’t work for other Spotify Premium plans. Gift cards can’t be applied to Premium Duo or Premium Family plans.
Since I subscribe to Spotify Family, I can’t use this money-saving strategy. However, I chatted with a good friend who successfully used this hack. I’ve also read many success stories shared online. If you have a Premium Individual plan and love a deal, it’s worth a try.
Another strategy to access Spotify Premium for less
If you’re looking for other ways to get a deal on a Spotify Premium subscription, you may want to consider switching plans. Premium Individual isn’t the only plan available. If you share a household with a partner, roommates, or friends, subscribing to Spotify Duo or Spotify Family and splitting the subscription cost could yield sizable savings.
Spotify Duo, available to two users in a household, costs $14.99 monthly. Spotify Family, which supports up to six users in one household, costs $16.99 monthly. These plans offer an excellent way for users in shared households to pay less for streaming subscription costs.
While you can’t use a Spotify gift card to pay for these plans, you can pay for your monthly subscription using a rewards credit card so you earn valuable rewards. If you prefer to earn cash back rewards, review our best cash back credit cards to find out how.
Are you looking for other ways to save money? Check out our free personal finance resources.
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