Spotify introduced on Monday that its premium subscription costs will enhance 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 e mail explaining that their month-to-month subscription price will enhance from 10,99 € to 11,99 €.
Spotify made an identical change final yr for customers within the U.S., growing costs from $10.99 to $11.99 — on the time, it marked the second occasion after they had hiked costs during the last yr.
These value hikes arrive after Spotify’s tough earnings report final week, when the platform missed income expectations, inflicting its inventory value to drop 11%. On the corresponding earnings name with traders, CEO Daniel Ek said that he’s “sad with the place [Spotify is] right this moment,” however remained “assured within the ambitions we laid out for this enterprise.”
Spotify’s shares rose 5% in pre-market buying and selling after saying the value hikes.
