Music streaming giant Spotify is preparing to raise subscription fees as it rolls out new features and pushes toward its goal of reaching one billion users, the Financial Times reported on 24 August, citing company co-president and chief business officer Alex Norstrom.

The FT noted that the price increases will be introduced alongside new services. “Price increases and price adjustments and so on, that’s part of our business toolbox and we’ll do it when it makes sense,” Norstrom said in the interview. Reuters said it could not immediately verify the report.

Earlier this month, the Swedish company confirmed that its premium individual plan would see an increase in select markets beginning September, with the monthly fee rising from €10.99 to €11.99. The adjustment covers regions across South Asia, the Middle East, Africa, Europe, Latin America, and the Asia-Pacific.

Spotify’s strategy of pairing price adjustments with cost-cutting helped it post its first annual profit last year.

In the Philippines, updated prices are already visible on Spotify’s website. The individual plan now costs P169, up from P149, while the Duo plan increased to P229 from P199. The student plan rose slightly to P85 from P75, and the Family plan now costs P279 from P239.

Spotify announced the hike in a 4 August press release, saying the move will allow the platform “to innovate on our product offerings and features and bring users the best experience.” Premium subscribers will be notified via email about how the new rates affect their accounts.

Launched in 2008, Spotify reported 696 million monthly users as of June 2025, including 276 million paying subscribers.