Spotify, the world's largest music streaming platform, is raising paid plan prices in some countries, including the United States. Citing the value of its service and stronger support for artists, Spotify said the U.S. subscription fee will rise by $1 within a month.
On the 15th (local time), Spotify announced its plan to update pricing through its company blog. As a result, premium subscribers in the United States, Estonia and Latvia will receive emails notifying them of the price increase by next month.
According to the notice, in the United States the premium monthly subscription fee will increase from $11.99 to $12.99 starting in Feb. Spotify said market-specific price adjustments align with the value of the service it provides and explained it will use this to deliver a better experience to users and ensure benefits also reach artists.
Spotify already raised U.S. subscription fees by $1 in June 2024, making this an additional increase after about eight months. In Nov. last year, the company reported relatively solid quarterly results, but its outlook for future revenue and subscriber growth fell short of market expectations.
Meanwhile, founded in Sweden, Spotify shifted to a co-CEO system earlier this month, with Gustav Söderström and Alex Norström taking over after co-founder Danielle Ek stepped down as chief executive. Last year, news that Ek's investment firm had invested in a defense technology company sparked backlash in the arts community, and some musicians moved to boycott the platform by pulling their music.