Breaking: Spotify to Raise Prices in Several Markets
MarketAlleys Desk
Published · 1 min read
Swedish music streaming giant Spotify Technology SA is set to implement price hikes of $1 to $2 per month in five key markets, including the UK, Australia, and Pakistan, by the end of April, Bloomberg News reports, citing insider sources.
According to the report, Spotify intends to introduce a new basic tier, offering music and podcasts (excluding audiobooks), at the current monthly price of $11, equivalent to an individual premium plan.
Sources suggest that the company plans to increase prices in the United States, its largest market, later this year. In the U.S., Spotify's premium plans currently range from $10.99 for an individual to $16.99 for a family plan, on a monthly basis.
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Price-to-earnings ratio (P/E)
Share price divided by earnings per share.
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