In a highly competitive music streaming market, Spotify has long held a dominant position. As of this year, the streaming platform boasts over 30 percent market share, followed by Tencent Music at roughly 14 percent, Apple Music at 12.6 percent, and Amazon Music at 11.1 percent.
The dominance comes thanks to its first-movers advantage with the ‘freemium’ model, paired with a constant stream of new features. However, paired with new features, the platform is also no stranger to introducing price hikes.
Spotify hiked its subscription prices in the US in July 2023, followed by a subsequent hike in June 2024. Considering the pattern, the next hike should have arrived this summer, but it thankfully never did. Unfortunately, though, with the hike now long overdue, major record labels seem to be pressurizing Spotify (and even competitors like Apple) into adjusting its pricing.
The development was highlighted in a Financial Times report, suggesting that Spotify is planning to adjust its pricing in the first quarter of 2026.
This comes soon after the music streaming giant introduced a dedicated Audiobooks+ plan in the US earlier this year.
Are you willing to stay put?
Spotify Premium currently starts at $11.99. The hike’s scope isn’t immediately clear, though a $1 increase to $12.99/mo is a very likely estimate. This comes soon after the streaming giant’s latest €10.99/month to €11.99/month price hike, which only made its way to select markets, excluding the US.
Other plans, including Spotify’s Student, Duo, and Family plans, will likely receive a price hike too, to keep up with global inflation.
Would you be willing to stay subscribed at Spotify’s potentially new pricing, or are you planning to jump ship the moment a hike is announced? Let us know in the comments below!
