Spotify Technology SA (NYSE:SPOT) saw its stock climb 5.4% following news that the company intends to increase prices for its Premium subscription service in several international markets.
The streaming leader outlined plans to raise Premium subscription fees within the next month across regions such as South Asia, the Middle East, Africa, Europe, Latin America, and the Asia-Pacific area. Existing Premium users in these locations will receive email notifications detailing the upcoming rate changes.
Although Spotify didn’t disclose the specific price adjustments for each region, it shared an example of a €1 monthly increase—from €10.99 to €11.99—in an unnamed European country, reflecting roughly a 9% hike for that subscription tier.
This price revision aligns with Spotify’s stated dedication to “delivering a world-class, personalized experience” and its goal to “continue to innovate on our product offerings and features.” The company emphasized that “occasional price updates” are necessary to provide users with “the best experience.”
This latest move highlights Spotify’s efforts to boost its revenue streams while balancing subscriber growth with profitability. The market’s positive response indicates investors see the price hike as a beneficial step toward strengthening the company’s financial outlook.
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