Spotify has announced plans to raise the price of its Premium Individual subscription in several global markets, effective from September. The monthly fee will increase from €10.99 to €11.99 in regions including South Asia, the Middle East, Africa, Europe, Latin America, and Asia-Pacific.
The streaming company confirmed that subscribers would receive email notifications detailing the change over the coming month. The move is part of Spotify’s broader strategy to strengthen its profit margins.
Reasons for the price hike
This follows previous price adjustments and a series of cost-cutting measures that have contributed to the company’s first annual profit in 2024. Despite a rise in both monthly active users and paying subscribers during the second quarter, Spotify reported a quarterly loss attributed to higher taxes tied to employee compensation. The tax impact has also led to a more cautious profit outlook for the third quarter.
In a bid to diversify its offering and attract more users, Spotify has been increasing its video content through its Partner Program. The initiative provides podcast creators with monetisation tools and has seen a growing number of contributors, significantly boosting the platform’s video catalogue.
Additionally, the firm is beginning to benefit from regulatory changes in the United States. Apple has approved Spotify’s app update that includes subscription pricing and external payment links, following a court ruling that blocked Apple from charging commission on off-app purchases. Spotify’s CEO Daniel Ek noted that this development has resulted in a “very positive uptick” in the US market. He added that similar regulatory shifts in Europe and the UK could further benefit Spotify and other developers.
Spotify now offers 7 million podcasts
Spotify revealed that its platform now features a total of seven million podcasts, including more than 430,000 video podcast titles. In addition, it offers over 350,000 audiobooks available for one-time purchase. As of June 2025, the company employed 7,309 full-time staff across the globe.
(With inputs from Reuters)
