Spotify shares jumped 6% after a Bloomberg report said the company will raise prices for its premium subscription service in several markets.
The Swedish music-streaming company will hike prices in the U.S. later this year, Bloomberg reported, citing people familiar with the matter. Spotify will also launch a new basic subscription tier for $11 per month, the same price as the premium plan currently costs, Bloomberg reported.said the company will increase prices for its premium subscription service in several markets, including the U.S., for the second time in a year.
The Swedish music-streaming company will hike prices in the U.S. later this year, Bloomberg reported Wednesday, citing people familiar with the matter. The people familiar said Spotify will raise monthly prices by the end of April by about $1 to $2 in five markets including the United Kingdom, Australia and Pakistan, according to Bloomberg.Spotify will also launch a new basic subscription tier for $11 per month, the same price as the premium plan currently costs, Bloomberg reported.