diff --git a/mopidy/models.py b/mopidy/models.py
index c12da719..97b524ea 100644
--- a/mopidy/models.py
+++ b/mopidy/models.py
@@ -2,6 +2,7 @@ from __future__ import absolute_import, unicode_literals
 
 import copy
 import json
+import weakref
 
 # TODO: split into base models, serialization and fields?
 
@@ -24,7 +25,7 @@ class Field(object):
     """
 
     def __init__(self, default=None, type=None, choices=None):
-        self._name = None  # Set by FieldOwner
+        self._name = None  # Set by ImmutableObjectMeta
         self._choices = choices
         self._default = default
         self._type = type
@@ -130,7 +131,7 @@ class Collection(Field):
         return self._default.__class__(value) or None
 
 
-class FieldOwner(type):
+class ImmutableObjectMeta(type):
 
     """Helper to automatically assign field names to descriptors."""
 
@@ -142,8 +143,20 @@ class FieldOwner(type):
                 value._name = key
 
         attrs['_fields'] = fields
+        attrs['_instances'] = weakref.WeakValueDictionary()
         attrs['__slots__'] = ['_' + field for field in fields]
-        return super(FieldOwner, cls).__new__(cls, name, bases, attrs)
+
+        for base in bases:
+            if '__weakref__' in getattr(base, '__slots__', []):
+                break
+        else:
+            attrs['__slots__'].append('__weakref__')
+
+        return super(ImmutableObjectMeta, cls).__new__(cls, name, bases, attrs)
+
+    def __call__(cls, *args, **kwargs):  # noqa: N805
+        instance = super(ImmutableObjectMeta, cls).__call__(*args, **kwargs)
+        return cls._instances.setdefault(weakref.ref(instance), instance)
 
 
 class ImmutableObject(object):
@@ -157,7 +170,7 @@ class ImmutableObject(object):
     :type kwargs: any
     """
 
-    __metaclass__ = FieldOwner
+    __metaclass__ = ImmutableObjectMeta
 
     def __init__(self, *args, **kwargs):
         for key, value in kwargs.items():
@@ -232,7 +245,7 @@ class ImmutableObject(object):
                 raise TypeError(
                     'copy() got an unexpected keyword argument "%s"' % key)
             super(ImmutableObject, other).__setattr__(key, value)
-        return other
+        return self._instances.setdefault(weakref.ref(other), other)
 
     def serialize(self):
         data = {}
diff --git a/tests/models/test_fields.py b/tests/models/test_fields.py
index ff863487..1bf46b7f 100644
--- a/tests/models/test_fields.py
+++ b/tests/models/test_fields.py
@@ -9,7 +9,7 @@ def create_instance(field):
     """Create an instance of a dummy class for testing fields."""
 
     class Dummy(object):
-        __metaclass__ = FieldOwner
+        __metaclass__ = ImmutableObjectMeta
         attr = field
 
     return Dummy()
diff --git a/tests/models/test_models.py b/tests/models/test_models.py
index ef484fa9..90701b14 100644
--- a/tests/models/test_models.py
+++ b/tests/models/test_models.py
@@ -8,6 +8,22 @@ from mopidy.models import (
     TlTrack, Track, model_json_decoder)
 
 
+class CachingTest(unittest.TestCase):
+
+    def test_same_instance(self):
+        self.assertIs(Track(), Track())
+
+    def test_same_instance_with_values(self):
+        self.assertIs(Track(uri='test'), Track(uri='test'))
+
+    def test_different_instance_with_different_values(self):
+        self.assertIsNot(Track(uri='test1'), Track(uri='test2'))
+
+    def test_different_instance_with_copy(self):
+        t = Track(uri='test1')
+        self.assertIsNot(t, t.copy(uri='test2'))
+
+
 class GenericCopyTest(unittest.TestCase):
 
     def compare(self, orig, other):