Spotify introduced on Monday that its premium subscription costs will improve for customers in a number of markets throughout the Center East, Africa, Europe, Latin America, and the Asia-Pacific area.
Over the following month, impacted subscribers will obtain an electronic mail explaining that their month-to-month subscription value will improve from 10,99 € to 11,99 €.
Spotify made an analogous change final yr for customers within the U.S., rising costs from $10.99 to $11.99 — on the time, it marked the second occasion after they had hiked costs over the past yr.
These worth hikes arrive after Spotify’s tough earnings report final week, when the platform missed income expectations, inflicting its inventory worth to drop 11%. On the corresponding earnings name with traders, CEO Daniel Ek acknowledged that he’s “sad with the place [Spotify is] immediately,” however remained “assured within the ambitions we laid out for this enterprise.”
Spotify’s shares rose 5% in pre-market buying and selling after asserting the worth hikes.
