Daniel Ek, CEO of Swedish music streaming service Spotify.
Toru Yamanaka | AFP | Getty Images
Spotify on Monday introduced it can improve the worth of its Premium subscription choices by as a lot as $2, which interprets to a 20% improve for some plans.
The firm stated the market panorama has “continued to evolve” since Spotify launched, and that the modifications will assist the corporate “continue to deliver value to fans and artists,” in line with a weblog publish.
In the U.S., Spotify’s Premium Single providing now prices $10.99, up from $9.99, and the worth of its Premium Duo plan modified to $14.99, up from $12.99. The firm’s Premium Family plan is now priced at $16.99, up from $15.99, and the coed providing prices $5.99, up from $4.99.
Shares of Spotify had been down 5% Monday morning.
Spotify can also be growing costs throughout a number of different nations, together with Canada, France, the United Kingdom, Mexico and Australia. The firm stated present subscribers might be notified in regards to the worth modifications by way of e-mail and given a “one-month grace period” earlier than the brand new costs go into impact.
“As we continue to grow our platform, we are updating our Premium prices so that we can keep innovating in changing market conditions,” the corporate wrote on its web site.
Spotify will report its quarterly earnings Tuesday at 6 a.m. ET.
Source: www.cnbc.com