Spotify Technology S.A. is set to increase its subscription prices in numerous countries worldwide this summer, according to a Friday report by the Financial Times, citing sources close to the matter.
The insiders revealed that the streaming platform intends to implement price hikes equivalent to €1 for individual subscriptions across European and Latin American markets, with changes expected as soon as June.
According to these sources, Spotify won't adjust prices in its biggest market, the United States. The platform last modified its US pricing in July 2024. Despite recent price adjustments, US subscribers currently pay $11.99 monthly, up from the initial $9.99 monthly rate when the service debuted in the country 14 years ago.
Spotify shares were up 2.61% at 2:05 pm ET to sell for $622.51.
