US EditionSpotify Flags Price Rises as It Introduces New Services, FT Reports
Spotify plans to enhance its services and target 1 billion users while increasing premium subscription prices to improve profit margins starting September.
- Spotify will raise prices as it invests in new features and targets one billion users, according to Co-President Alex Norstrom.
- The monthly price for its premium individual subscription will increase in some markets from £10.99 to £11.99 beginning in September.
- Price increases and cost-cutting measures helped Spotify achieve its first annual profit last year.
- Norstrom stated that price adjustments are a part of their business strategy and will be implemented when appropriate.
28 Articles
28 Articles
Spotify will raise prices as music giant introduces new features, eyes 1 billion users: report
Spotify will raise prices as it invests in new features and targets 1 billion users, the Financial Times reported on Sunday, citing the music streaming provider's Co-President and Chief Business Officer Alex Norstrom.
Spotify is getting more expensive, but with this trick, customers are dealing with price increases.
Spotify is considering further price increases for customers, while the music streaming service invests in new features and aims for a billion users. The Financial Times reports this based on an interview with Alex Norström, who heads Spotify's subscription and advertising operations, among other things.
In early August, the streaming service Spotify raised its price in the Swedish market, among other places. Now, the company's vice president, Alex Norström, is warning that more price increases are to be expected as the company develops the service.
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