Spotify’s $12.99 Price Spike: A Half-Billion-Dollar Gamble for Music Streaming’s Big Player

Spotify’s third U.S. price hike in three years—$12.99 a month—has fans groaning and analysts calculating a potential half-billion-dollar windfall.

Spotify raised U.S. subscription prices from $11.99 to $12.99, marking the third increase in three years. The company cited value delivery in its blog post: "Occasional updates to pricing across our markets reflect the value that Spotify delivers, enabling us to continue offering the best possible experience and benefit artists."

JPMorgan analysts projected the hike could generate $500 million in additional revenue for Spotify, a figure contextualized against its 281 million paid user base—25% of which are in North America (Q3 2025 data).

The U.S. price adjustment aligns with simultaneous hikes in smaller markets like Estonia, Switzerland, Latvia, and the UK, all scheduled for 2026. Financial Times first reported the 2026 price increase plans in November 2025.

Previous U.S. hikes occurred in 2023 ($9.99 to $10.99) and 2024 ($10.99 to $11.99), establishing a pattern of annual $1 increments.