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Spotify is reportedly set to increase its subscription rates in multiple countries across the world. As reported by Financial Times on April 26, the streaming platform plans to raise prices for individual subscriptions by around €1 per month. This increase, which will vary across regions, is expected to be rolled out in European and Latin American countries this summer.
The outlet reported that the platform wouldn't increase the prices in the United States this year, as the prices were already raised there in July last year. Notably, the US is the streaming platform's largest market.
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Why is Spotify increasing its subscription prices?
The streaming platform has raised its prices by just $2.00 in the US since its launch in 2014. It started at $9.99 and is currently $11.99 per month.
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As per the Financial Times, music industry executives have been urging platforms like Spotify and Apple Music to increase their prices for a while now. This is because their growth has been at a slower rate than inflation. Moreover, music subscription prices are much lower than those of video subscription platforms.
Potential new services and price changes
As per the IFPI trade group, revenue growth in the music industry halved last year as the expansion has slowed down. As a result, many big music companies have hinted at introducing "Streaming 2.0." This would see users paying a premium price for these services.
In September 2024, Universal Music Group chief executive Lucian Grainge said:
“The next phase of streaming, what I like to call streaming 2.0 . . . we believe that the value will grow enormously.”
Streaming platforms like Spotify have reportedly been considering charging an extra fee for fans to gain early access to music from their favorite artists. There is also discussion around introducing a "super-premium" tier, expected to cost around $6 more per month. This would include early access to concert tickets and other benefits.
Regarding "Streaming 2.0," Midia analyst Mark Mulligan said:
“Do people want something new? It’s almost like you need the stick element of super-premium. And the stick element is: if you want to hear the music first, you need super premium.”
Notably, Spotify's stock price has more than doubled over the past year.
Spotify set to increase prices in the Netherlands
The streaming platform has announced an increase in prices in the Netherlands, starting from May 1, 2025. As reported by Hard News on April 24, 2025, the company stated:
“This allows us to keep innovating, even in changing market conditions. With the new pricing, we can continue delivering value to fans.”
Based on the kind of subscription, the price increase will vary from €1 to €4. The Premium Student plan (€5.99 per month) will see a €1 increase. The Premium Individual plan (€10.99) will have a €2 increase. Meanwhile, the Premium Duo (€14.99) and the Premium Family ($17.99) plans will see a €3 and €4 increase, respectively.
Premium users can also switch to the basic subscription to avoid paying the increased prices. The only difference is that the basic subscription doesn't include audiobooks.
