Spotify has announced price increases for its Premium subscription service, affecting users in South Asia, the Middle East, Africa, Europe, Latin America, and the Asia-Pacific region. Notification of these changes will be sent via email to subscribers. Specific increases have already been implemented in several EU countries, with prices in Spain, Italy, and Portugal rising by €1 to €11.99. Despite having 276 million Premium users, Spotify did not meet its earnings expectations, missing its guidance by $100 million in Q2.
Spotify is raising its Premium subscription prices across various regions including South Asia, the Middle East, Africa, Europe, Latin America, and Asia-Pacific, with specific increases already confirmed in some EU markets.
In select EU markets such as Spain, Italy, and Portugal, the Premium plans will see an increase of €1, bringing the starting price to €11.99, effective in the next billing cycle.
Spotify currently has a total of 276 million Premium subscribers. However, it fell short of its earnings guidance, missing the target by $100 million in their recent Q2 financial report.
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