A surface displays the logo of Spotify connected the level astatine the New York Stock Exchange connected Dec. 4, 2023.
Brendan Mcdermid | Reuters
Spotify volition rise prices arsenic it invests successful caller features and targets 1 cardinal users, the Financial Times reported connected Sunday citing the euphony streaming provider's Co-President and Chief Business Officer Alex Norstrom.
The increases would beryllium accompanied by planned caller services and features, the FT cited Norstrom arsenic saying successful an interview.
Spotify did not instantly respond to a Reuters petition for comment.
Earlier successful August, the Swedish steadfast said it would summation the monthly terms of its premium idiosyncratic subscription successful immoderate markets from September, arsenic it looks to amended nett margins.
It said the terms volition emergence to 11.99 euros ($14.05) from 10.99 euros successful markets including South Asia, the Middle East, Africa, Europe, Latin America and the Asia-Pacific region.
"Price increases and terms adjustments and truthful on, that's portion of our concern toolbox and we'll bash it erstwhile it makes sense," Norstrom told the newspaper.
Price increases combined with cost-cutting efforts successful caller years helped Spotify execute its archetypal yearly nett past year.
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