Spotify to Raise U.S. Prices in First Quarter of Next Year, Report Says

Spotify is planning to raise subscription prices in the U.S. in the first quarter of next year, according to a Financial Times report. This will be the streaming service’s first U.S. price increase since July 2024. Spotify recently raised subscription fees in other countries, including the U.K., Switzerland, and Australia.

Currently, a Spotify subscription costs $11.99 per month in the U.S. When the service first launched in the country 14 years ago, it was priced at $9.99 per month.

JPMorgan analysts estimate that a $1-per-month increase in the U.S. could boost Spotify’s annual revenue by roughly $500 million.

Major record labels have also been urging Spotify and other music streaming platforms to raise subscription fees, arguing that they have not kept up with inflation and remain lower than those of services like Netflix.

This news comes weeks after Spotify announced that founder Daniel Ek is stepping down as CEO. Ek will be replaced by two co-CEOs: Gustav Söderström, the current co-president and chief product and technology officer, and Alex Norström, co-president and chief business officer.