Changes are happening at Spotify and it goes beyond its C-suite.
Everything from coffee to a used car is more expensive these days, and now your music streaming service is too. Spotify announced this week that it will raise prices for U.S. subscribers—again.
Spotify (SPOT) closed at $508.04 in the latest trading session, marking a -3.95% move from the prior day.
The company said the price change is a part of its ongoing efforts to "keep delivering a great experience."
Spotify next month will raise the price of its Premium subscription plan from $11.99 to $12.99 a month. The new rate will be effective in the U.S., Estonia and Latvia.
Spotify is increasing the price of its Premium subscription service by $1 a month in the United States. The monthly price of an individual Premium subscription will increase from $11.99 to $12.99, effective in February, the company said in a Thursday (Jan. 15) press release.
Spotify raised prices for its subscription plan in the U.S. for the third time in three years, as it hiked the monthly plan from $11.99 per month to $12.99 per month.
The price of a premium subscription in the U.S. will rise to $12.99 a month from $11.99.
Spotify (SPOT) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Spotify is lowering its eligibility criteria for podcasters to monetize their videos on the platform, dropping the minimum episode requirement to three, minimum consumption hours to 2,000, and engaged audience member threshold to 1,000 over the last 30 days.
Spotify (SPOT) concluded the recent trading session at $571.43, signifying a -3.7% move from its prior day's close.
Spotify leads its niche, despite having to compete with some tech giants. The company boasts plenty of growth avenues and a strong competitive edge.