Spotify to raise monthly subscription price to $12.99 in US and other markets

Spotify will increase its monthly premium subscription price to $12.99 in the United States, Estonia, and Latvia starting in February. The company has not observed significant customer churn despite recent price increases, emphasizing its focus on retaining existing users. The new pricing is part of Spotify's efforts to reinvest increased revenue into improving the platform and supporting creators. The company has 281 million premium subscribers and 713 million monthly active users.