Spotify is raising prices for Premium subscribers in multiple regions outside of the US, including Europe, South Asia, the Middle East, Africa, Latin America, and Asia-Pacific. A €1 monthly price increase has already been implemented for new customers in Spain, Italy, and Portugal. Despite recent subscriber growth, Spotify's profit forecast has disappointed analysts, resulting in an 11.5% drop in stock price. CEO Daniel Ek emphasized a long-term focus on subscriber retention over immediate revenue increases, although price hikes were already planned for Europe and Latin America this summer.
Spotify is increasing prices for Premium subscribers in several regions outside the US, with a specific example showing a €1 monthly increase.
New customers in Spain, Italy, and Portugal have already seen €1 monthly increases, with no additional increases reported in France, Belgium, Luxembourg, and the Netherlands.
Spotify's profit forecast fell below analysts' estimates, leading to an 11.5% drop in stock price, wiping $16 billion off the market cap.
CEO Daniel Ek stated that Spotify prioritizes retaining subscribers over short-term revenue gains, despite planning price hikes in Europe and Latin America.
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