Spotify Raises Subscription Prices

In Brief

Spotify announced connected Monday that its premium subscription prices will summation for users successful aggregate markets crossed nan Middle East, Africa, Europe, Latin America, and nan Asia-Pacific region.

Over nan adjacent month, impacted subscribers will person an email explaining that their monthly subscription costs will summation from 10,99 €  to 11,99 €.

Spotify made a akin change past twelvemonth for users successful nan U.S., expanding prices from $10.99 to $11.99 — astatine nan time, it marked nan 2nd lawsuit erstwhile they had hiked prices complete nan past year.

These value hikes get aft Spotify’s unsmooth net study past week, erstwhile nan level missed gross expectations, causing its banal value to drop 11%. On nan corresponding net telephone pinch investors, CEO Daniel Ek stated that he is “unhappy pinch wherever [Spotify is] today,” but remained “confident successful nan ambitions we laid retired for this business.”

Spotify’s shares roseate 5% successful pre-market trading aft announcing nan value hikes.

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