Shares of Spotify rose by about 5% on Monday, after the company announced it will once again raise the prices for its subscription plans in the U.S., following an increase in subscribers.
Spotify is raising prices for the second time in two years, upping the monthly rate for its ad-free premium plan by $1 starting in July. When the new price of $11.99 takes effect, it will be 20% higher than it was in 2022.
Spotify on Monday announced it is increasing the cost of its premium subscription plans, according to a release. The company also hiked its prices in July of last year.
Spotify Technology SA SPOT, -2.60% announced early Monday that it was raising prices for its various paid streaming offerings in the U.S. The monthly price of an individual plan, for instance, will go up by a buck to $11.99.
Spotify has announced that it's hiking subscriptions for customers in the U.S., the second such price increase in the space of a year.
Spotify said on Monday it will increase the price of its premium individual monthly plan to $11.99 from $10.99 in the United States from July.
Spotify stock has room to run higher this year as the streaming music leader shows improved profitability, a Wall Street analyst says.
Spotify (SPOT) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Spotify has hiked the price for its premium subscription in France by an eye-watering €0.13 in response to a music-streaming levy imposed by the government at the start of the year.
Spotify has been a hot stock, but it has a lot of work to keep the market happy.
It's been three years since Spotify acquired live audio startup Betty Labs, and yet the music streaming service isn't leveraging the technology to its fullest potential—at least not in our opinion.
Spotify (SPOT) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.