Spotify informed subscribers today via email of an increase to its Premium monthly subscription, marking the third price hike in the last 2.5 years. The cost for a Premium individual monthly subscription will increase from $12 to $13, effective on users' February billing date.

The price adjustment extends beyond individual plans. Student monthly subscriptions are rising from $6 to $7, Duo plans (for two accounts within the same household) are increasing from $17 to $19, and Family plans (for up to six users) are moving from $20 to $22. The Basic plan, offered as a downgrade option for some Premium subscribers at $11 per month, remains unaffected.

Spotify last raised prices in July 2024. At that time, Premium individual subscriptions went from $11 to $12, Duo subscriptions increased from $15 to $17, and Family subscriptions rose from $17 to $20. For years prior to July 2023, Spotify maintained stable subscription prices.

The company has not explicitly stated the reasons behind the repeated price increases. However, industry analysts suggest that rising licensing costs for music and podcasts, coupled with Spotify's ongoing investments in original content and technology, are likely contributing factors. The shift could also reflect a broader industry trend, as streaming services grapple with profitability challenges in a competitive market.

The repeated price increases raise questions about the long-term affordability and accessibility of music streaming services. While Spotify continues to dominate the market, these changes could prompt some users to explore alternative platforms or reconsider their subscription habits. The impact of these price hikes on subscriber growth and overall market dynamics remains to be seen.