Overview
- The Financial Times, citing three people familiar with the plans, reports Spotify is preparing a U.S. subscription hike in the first quarter of next year.
- It would be the first U.S. increase since July 2024 following recent rises in the UK, Switzerland and Australia.
- U.S. Premium currently costs $11.99 per month, and JPMorgan estimates a $1 increase could add about $500 million in annual revenue.
- Major record labels have been urging higher subscription rates as IFPI data shows a slowdown in global music revenue growth.
- Incoming co-CEO Alex Norström said pricing will be set market by market, and Daniel Ek is moving to executive chair at the start of next year.