One of the most frequently reported stories about Spotify, the world"s largest music streaming platform, is the rise in subscription prices for users worldwide. Subscription fees have increased several times in recent years, and in early 2026, American users are next to face a price hike.
According to a new Financial Times report, citing people familiar with the matter, Spotify will raise subscription fees for US customers starting in the first quarter of 2026.
This report suggests that the recent price hike for American users is driven by pressure from major record labels, which argue that current subscription rates no longer keep pace with inflation. Spotify is not the only platform affected, and Apple Music appears to be facing similar pressures as well.
In June 2024, Spotify raised the price of its Premium Individual plan in the US from $10.99 to $11.99 per month. The exact amount of the next price increase is yet to be announced. For comparison, Apple Music"s Individual plan currently costs $10.99 per month in the US, but Apple may also need to raise its prices to meet the demands of major record labels.
Spotify also hit users in South Asia, the Middle East, Africa, Europe, Latin America, and the Asia-Pacific region with a price hike in August this year, raising the Premium fee from €10.99 to €11.99.
Spotify sells Student ($5.99/month), Duo ($16.99/month), and Family ($19.99/month) plans in the US as well.
According to Spotify"s Q3 2025 earnings report, the music streaming platform generated €4.27 billion in revenue, a 7% increase from the same period last year. The company"s operating income rose 43% to €582 million. Spotify also reported that its total monthly active users grew 11% to 713 million, while it added 5 million paid Premium subscribers.
Although current earnings reports paint a rosy picture of Spotify"s situation, any price hike could further boost the company’s revenue in the upcoming quarters.