Spotify stock is up 18% on reported price increases and a new CFO hire. A report says the streamer will raise subscription prices in select markets.
Spotify’s newfound willingness to both raise prices and control costs has given new life to its stock price after an expensive entry into podcasting caused a downturn in 2022. Through Friday , shares of Spotify have increased 65.2% year to date and 134.2% over the past 12 months. Not even Believe, up 57.1% in 2024 thanks to competing interests to acquire the company, has matched Spotify’s momentum this year.
What’s more, the higher prices could help Spotify by improving its audiobook business. Spotify now gives subscribers in the United States and some other markets 15 hours of free audiobook streaming per month; users can also purchase additional listening time and buy audiobooks to keep.
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Spotify shares up on report it plans to raise pricesSpotify shares jumped 6% on Wednesday after a report said the company will increase prices for its premium subscription service in the U.S. and other markets.
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Spotify shares up on report it plans to raise pricesSpotify shares jumped 6% on Wednesday after a report said the company will increase prices for its premium subscription service in the U.S. and other markets.
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Spotify shares up on report company plans to raise pricesSpotify shares jumped 6% on Wednesday after a report said the company will increase prices for its premium subscription service in the U.S. and other markets.
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