Spotify Raising U.S. Price Of Premium Subscription
Deadline • • business
Key Points:
- Spotify will increase its Premium subscription price from $11.99 to $12.99 per month starting next month in the U.S., Estonia, and Latvia to reflect the value it delivers and support artists.
- The price hike follows a 25% decline in Spotify’s stock over six months amid restructuring and disappointing financial results, with analysts encouraging price increases to stabilize revenue.
- Founder Daniel Ek stepped down as CEO earlier this month, becoming executive chairman, while co-CEOs Gustav Söderström and Alex Norström now lead the company’s operations.
- Spotify, founded in 2006, currently has 696 million users and 276 million paying subscribers across 184 markets, facing competition from Apple Music, which has also raised prices.
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