Spotify is preparing to raise subscription prices again as it continues investing in new services and features. Speaking to the Financial Times, co-president and chief business officer Alex Norström confirmed that price adjustments have become “part of our toolbox,” reflecting a permanent shift in strategy after years of holding costs steady.
The move comes after Spotify began raising prices only two years ago, a change that investors welcomed as the company moved toward profitability. That combination of higher prices and cost-cutting led to Spotify’s first annual profit in 2024. Earlier this month, it announced that Premium subscription fees will rise in some regions beginning September, sending its shares up nearly 10 percent.
Norström emphasized that increases will coincide with added value. Spotify has recently expanded into audiobooks and podcasts, introduced tools like the AI DJ, and rolled out playlist features that allow users to customize transitions. At the same time, it has been developing a potential “superfan” tier, rumored to cost an extra $6 a month, aimed at listeners seeking exclusive artist content.
Currently, Spotify counts 276 million paying subscribers and nearly 700 million monthly active users, with Norström convinced the platform could one day reach one billion subscribers. He described the company’s “ubiquity strategy,” which focuses on making Spotify accessible everywhere – from smartphones and cars to smart speakers – while integrating more AI-driven tools to keep users engaged.
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