Spotify to Raise Premium Subscription Price in Select Markets from September

Spotify is raising its premium subscription price in select markets from September, with the cost increasing from €10.99 to €11.99 per month. The change will apply to users in certain regions, and the new pricing will take effect from the billing date in September.

Spotify has announced a price increase for its premium individual subscription in select markets, effective September. The new price will be €11.99 per month, up from the current €10.99. This adjustment will affect users in regions including South Asia, the Middle East, Africa, Europe, Latin America, and the Asia-Pacific region.

The Swedish streaming giant stated that this price hike is aimed at improving margins and supporting ongoing investments in new features. Over the next month, subscribers will receive an email detailing the price increase.

The stock market responded positively to the news, with Spotify shares rising about 3% in premarket trading. This increase comes after a significant rise of approximately 40% in the stock price year-to-date. Despite this, the company reported a quarterly profit below analyst estimates last month, due to higher taxes related to employee salaries outweighing music streaming demand.

[1] https://m.economictimes.com/tech/technology/spotify-to-raise-premium-subscription-price-in-select-markets-from-september/articleshow/123093202.cms
[2] https://www.globalbankingandfinance.com/SPOTIFY-TECH-PRICES-d5a828e7-4318-43c2-a005-e33992c1d11f
[3] https://www.yahoo.com/news/articles/spotify-raise-premium-subscription-price-100435586.html