Spotify raised Premium prices to $12.99, triggering backlash as lawsuits, leadership turmoil and fraud claims fuelled anger among subscribers.
The company announced the hike on Thursday (January 15). Shares immediately tanked 3.8% to $508.78. Investors weren’t feeling the move at all. This marks the fourth straight year Spotify raised prices. They went from $9.99 in 2022 to the prices announced today. That’s a 30% increase in four years. Spotify’s dealing with major legal drama right now. A massive class action lawsuit from November 2025 accused the platform of allowing billions of fake streams. The suit specifically called out Drake for allegedly benefiting from fraudulent bot activity.