Key Takeaways
- Spotify this week said it plans to raise the cost of its paid subscription offerings in the U.S. starting next month.
- The move comes after a number of other streaming services also announced price hikes in recent months.
Listening to music could be about to get a little bit more expensive for millions of people.
Spotify (SPOT) said earlier this week that it plans to raise the prices of its paid subscription offerings in the U.S. by $1 to $2 starting next month. That will bring the cost of an individual plan up to $12.99 per month, $18.99 for a plan that includes two accounts, $21.99 for a family plan of up to six accounts, and $6.99 for eligible student accounts, Spotify said.
It’s also not the only streaming company that’s raised prices recently. If you haven’t checked your subscriptions in a while, it could be a good time to see whether “subscription creep” may have pushed costs higher than you’d want, after a series of price hikes across the industry.
Why This Matters to You
Streaming entertainment subscriptions could be costing you more than you think, if you haven’t been keeping up with the latest price increases.
Many of America’s biggest streaming services, from Netflix (NFLX) to Disney’s (DIS) Disney+ and Hulu, Warner Bros. Discovery’s (WBD) HBO Max, and Comcast’s (CMCSA) Peacock, have either raised prices or announced plans to do so last year.
Paramount+, the streaming service owned by Paramount Skydance (PSKY), just got more expensive this week, after the company said in November it would lift prices in 2026.
This week’s pricing announcement from Spotify, which last raised subscription costs in June 2024, could also be followed soon by rival platforms, said analysts at Citi, who suggested some investors had expected a slightly higher price increase.