Spotify is implementing a global price increase for its premium subscription tier, impacting users in various regions, including Europe and South Asia. Customers will be informed of these changes via email. Certain European countries have already experienced a 1 price increase for new subscribers. The rationale behind the price hike is to support ongoing innovation in Spotify's product offerings and features. Post-announcement, Spotify's share price increased by approximately 8 percent, despite reports indicating disappointing subscriber growth.
Spotify is increasing the price of its paid-for, premium subscription tier globally, affecting users in Europe, South Asia, and other regions, notified via email.
Affected customers will see price hikes; countries like Portugal, Italy, and France have already experienced a price increase of 1 for new subscribers.
Spotify states the price increase is necessary to enable continued innovation in product offerings and features, justifying the hike to improve user experience.
Following the announcement of price hikes, Spotify's share price rose by around 8 percent, despite facing lower-than-expected subscriber growth.
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