"Spotify Plans Price Hike and New Basic Tier: What You Need to Know"
TL;DR
Spotify plans to raise prices on its subscription plans by $1 to $2 a month in several markets, including the UK, Australia, and Pakistan, with the US to follow later this year. The company also intends to introduce a new basic tier that will offer music and podcasts, but not audiobooks, at the current price of an individual premium plan. CEO Daniel Ek mentioned that investments in podcasts were a drag on the business in 2023, and a potential price hike could help push for profitability as the company expects strong growth in subscribers.
Topics:businessbusinesstech#businesstech#music-streaming#podcast#price-hike#spotify#subscription-plans
- Spotify to hike prices, introduce a new basic tier: report New York Post
- Spotify's price is reportedly going up again The Verge
- Spotify (SPOT) to Raise Prices, Introduce New Plans for Books and Music Bloomberg
- Spotify to Raise Prices Later This Year: Report Variety
- Spotify shares up on report company plans to raise prices CNBC
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