🧵 1. Spotify is increasing prices for its premium subscriptions by up to $2, citing evolving market conditions and aiming to deliver value to fans and artists. #tech
🧵 1. Spotify is increasing prices for its premium subscriptions by up to $2, citing evolving market conditions and aiming to deliver value to fans and artists. #tech
🧵 5. As Spotify continues to grow its platform, the company believes these pricing adjustments will support innovation and keep up with market changes.
🧵 2. In the US, Premium Individual now costs $10.99, Premium Duo is $14.99, Premium Family is $16.99, and Student offering is $5.99. Prices also increased in Canada, France, the UK, Mexico, and Australia.
🧵 3. Existing subscribers will be notified via email about the price changes and given a one-month grace period before the updated prices take effect. Spotify aims to continue innovating amidst changing market conditions.
🧵 4. Shares of Spotify dropped 5% on Monday morning following the announcement of the price increase. Quarterly earnings report coming up tomorrow at 6 a.m. ET.
I bought some hehe! Nobody is going to cancel their subscription over this and competitors hiked prices months ago.
🧵 Read more at: https://www.cnbc.com/2023/07/24/spotify-increases-prices-for-its-premium-subscription-plans.html
Great news for the investor IMO. It will help the company get back to profitability and continue to strenghten its leadership. I am Long #Spotify $SPOT
Jerks.