Spotify 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.
Spotify shares jumped 6% Wednesday after a Bloomberg report said the company will increase prices for its premium subscription service in several markets, including the U.S., for the second time in a year.
The Swedish music-streaming company will hike prices in the U.S. later this year, Bloomberg reported Wednesday, citing people familiar with the matter. Spotify will also launch a new basic subscription tier for $11 per month, the same price as the premium plan currently costs, Bloomberg reported.said the company will increase prices for its premium subscription service in several markets, including the U.S., for the second time in a year.
The Swedish music-streaming company will hike prices in the U.S. later this year, Bloomberg reported Wednesday, citing people familiar with the matter. The people familiar said Spotify will raise monthly prices by the end of April by about $1 to $2 in five markets including the United Kingdom, Australia and Pakistan, according to Bloomberg.Spotify will also launch a new basic subscription tier for $11 per month, the same price as the premium plan currently costs, Bloomberg reported.
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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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Some Spotify plans are reportedly getting more expensive soonKris Holt joined Engadget as a contributing reporter on the news desk in 2018. He has been writing about technology, games, streaming and entertainment for over a decade after starting his career as a sub-editor on a local newspaper. Kris holds a Master of Arts degree in English from the University of Dundee.
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Spotify Plans to Increase Subscription Prices and Expand Audiobook OfferingsSpotify is reportedly planning to raise its subscription prices by $1 to $2 in certain markets and expand its audiobook offerings. The increase is aimed at covering the costs of audiobook expansion. Spotify has become the second-largest player in audiobooks, behind Audible, and is rapidly expanding its efforts in new countries. A new 'basic' plan will also be introduced for those who prefer to get their audiobooks elsewhere.
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