Spotify plans to raise its subscription fees in the United States in the first quarter of 2026, the first increase in the country since July 2024, according to the Financial Times.

The Swedish streaming service has already implemented price hikes in more than 150 markets globally, including Europe, South Asia, the Middle East, Africa, Latin America, and the Asia-Pacific region. 

In August, Spotify raised its premium individual plan from €10.99 to €11.99 in these regions. The upcoming U.S. adjustment aims to bolster revenue and respond to pressure from investors and record labels.

JPMorgan analysts have estimated that even a $1 increase per month could add around $500 million to Spotify’s annual revenue. Record labels argue that streaming fees have lagged behind inflation and remain lower than comparable services such as Netflix, making price hikes necessary for fairer compensation and long-term sustainability.

Spotify’s leadership change adds another aspect to this transition. Founder Daniel Ek recently stepped down as CEO, and the company has appointed two co-CEOs: Gustav Söderström, the current Chief Product and Technology Officer, and Alex Norström, the Chief Business Officer. 

The move is seen by analysts as a strategic recalibration, combining product innovation with stronger business growth priorities.

The streaming giant remains the world’s largest music service, with over 600 million monthly active users. Its preeminence, coupled with subscriber loyalty, gives Spotify confidence that the U.S. price rise will be absorbed without significant churn. 

Reports also suggest that competitors like Apple Music, Amazon Music, and YouTube Music may follow with similar increases as the market adjusts to higher subscription norms.