Spotify to raise US prices in first quarter of next year, report says

Posted: Spotify is planning to raise subscription prices in the U.S. in the first quarter of next year, according to a new report from theFinancial Times. The move will mark the streaming service’s first price rise in the U.S. sinceJuly 2024. The company recently raised prices in several other countries, including the U.K., Switzerland, and Australia. A Spotify subscription currently costs $11.99 a month in the U.S. When the service first launched in the country 14 years ago, it cost $9.99 per month. The report says JPMorgan analysts have estimated that a $1-per-month price increase in the U.S. could increase Spotify’s annual revenue by about $500 million. Additionally, major record labels have been urging Spotify and other music streaming platforms to raise subscription prices, arguing that fees have not kept pace with inflation and remain low when compared to services like Netflix. The report comes a few weeks after Spotify announced that its founder, Daniel Ek,is stepping down as CEO. The company is replacing Ek with two co-CEOs: Gustav Söderström, the current co-president and chief product and technology officer at Spotify, and Alex Norström, co-president and chief business officer. Topics StrictlyVC concludes its 2025 series with an exclusive event featuring insights from leading VCs and builders such as Pat Gelsinger, Mina Fahmi, and more. Plus, opportunities to forge meaningful connections. Subscribe for the industry’s biggest tech news Every weekday and Sunday, you can get the best of TechCrunch’s coverage. TechCrunch Mobility is your destination for transportation news and insight. Startups are the core of TechCrunch, so get our best coverage delivered weekly. Provides movers and shakers with the info they need to start their day. By submitting your email, you agree to ourTermsandPrivacy Notice.