Spotify subscribers in the United States will pay more, thanks to a subscription price hike sometime during the first quarter of 2026, according to a report from the Financial Times.
The publication, citing sources familiar with the matter, says major record labels are pressuring both Spotify and Apple Music to hike subscription prices. The record companies claim the subscriptions are cheap, compared to video streaming services, such as Netflix and Apple TV.
Wall Street analysts say Spotify’s stock would benefit greatly from a price increase, with JPMorgan analysts projecting that a $1-a-month price rise would boost Spotify’s annual revenue by $500 million.
Spotify has not raised its prices in the US since July 2024. Meanwhile, it recently hike prices in South Asia, the Middle East, Africa, Europe, Latin America, and the Asia-Pacific region.
A Spotify subscription currently costs $11.99 a month in the US, up two dollars from its original $9.99 subscription fee when the service first launched there 14 years ago. Apple Music is currently $10.99 per month for individual plans.