3 months ago
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By AFP
03 June 2024 | 3:41 p.m.
Swedish streaming work Spotify said Monday that it was raising its prices for premium subscribers successful the United States for the 2nd clip successful nether a year.
FILE PHOTO: A smartphone and a headset are seen successful beforehand of a surface projection of Spotify logo, successful this representation illustration taken April 1, 2018. REUTERS/Dado RuvicSwedish streaming work Spotify said Monday that it was raising its prices for premium subscribers successful the United States for the 2nd clip successful nether a year.
The institution said successful a connection that it was hiking prices truthful “we tin proceed to put successful and innovate connected our merchandise features and bring users the champion experience.”
The caller monthly subscription prices volition beryllium introduced “over the adjacent month,” it said, with an idiosyncratic subscription going up by $1 to $11.99.
A duo subscription volition present outgo $16.99 and a household subscription $19.99, portion a pupil subscription volition stay unchanged astatine $5.99.
In July 2023, Spotify announced it was raising its prices for premium subscribers “across a fig of markets astir the world,” pursuing akin moves by competing euphony services from Apple and Amazon.
In April, Spotify reported a uncommon operating nett for the archetypal 4th of 168 cardinal euros ($179 million), a turnaround from a nonaccomplishment of 156 cardinal euros successful the play a twelvemonth earlier.
It said the concern had “performed well” successful the quarter, “led by steadfast subscriber gains, improved monetisation, and grounds spot successful profitability.”
Spotify said it had 615 cardinal progressive users astatine the extremity of the archetypal quarter, of which 230 cardinal were paying subscribers.
The institution has invested heavy since its motorboat to substance maturation with expansions into caller markets and, successful caller years, exclusive contented specified arsenic podcasts.
Despite its occurrence successful the online euphony market, it has ne'er posted a full-year nett net and lone occasionally posted quarterly profits.
In December, it said it would chopped unit levels by astir 17 percent successful a bid to trim costs, which followed earlier layoffs announced successful January and June of 2023.
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Swedish streaming work Spotify said Monday that it was raising its prices for premium subscribers successful the United States for the 2nd clip successful nether a year.
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