Bottom line: Spotify is reportedly preparing to increase subscription prices for US listeners early next year after trialing similar hikes in other regions including Australia, Switzerland, and the UK in recent months. Should it come to fruition, it'd be the first price increase for American subscribers since July 2024.
Spotify launched in the US in July 2011 at a cost of $9.99 per month for the premium, all-you-can-eat plan. Today, a premium individual plan will set you back $11.99 after a free four-month trial period. Sources haven't said how much Spotify will cost after the Q1 price hike but if we had to guess, an increase of $1-2 per month seems likely.
According to analysts with JPMorgan, a $1 price increase in the US would boost the company's annual revenue by $500 million.
Nobody wants to pay more per month for their various subscriptions, but unfortunately inflation is a very real thing and companies like Spotify have little choice but to keep pace with it. Apple increased the cost of its streaming music service in late 2022 with rival Amazon following up with a similar move in the summer of 2023.
In the grand scheme of things, Spotify remains one of the better values in streaming considering you get access to over 100 million songs. Whether or not that'll continue to be the case for much longer remains to be seen.
It's possible to get a discount in certain scenarios. Students at eligible accredited higher education institutions can quality for Spotify Premium Student with Hulu (with ads) priced at $5.99 per month. Some stores, like Best Buy, offer 12-month Spotify gift cards for $99 – a savings of almost $45 annually over paying monthly.
Back in September, Spotify announced that CEO Daniel Ek would be stepping down as chief executive on January 1, 2026. At that time, Gustav Söderström, co-president and chief product and technology officer, and Alex Norström, co-president and chief business officer, will become co-chief executive officers. Ek will stick around as executive chairman.