Spotify Premium Prices are Increasing Outside the US
Well, it seems like Spotify's pulling a fast one, doesn't it? Just after releasing some results that weren't exactly music to investors' ears, they're hiking up Premium prices in a bunch of regions. It's like they're saying, "Hey, we know things are tough, but we still need your money!"
If you live in Europe, South Asia, the Middle East, Africa, Latin America, or Asia-Pacific, keep an eye on your inbox because Spotify will be sending out notifications about these changes over the next month. I saw an example where someone in Europe is going to pay one extra Euro per month. Although, Spotify isn't saying exactly *which* countries are affected.
It looks like some countries, such as Spain, Italy, and Portugal, have already seen these increases applied to new subscribers. Those lucky countries that already had a price bump recently, like France, Belgium, Luxembourg, and the Netherlands, seem to be spared for now.
Even though they're gaining paid subscribers, Spotify's profit forecasts weren't high enough to satisfy investors. Their stock took a nosedive, wiping billions off their value. So, are these price hikes a direct response to that? Perhaps not entirely, as reports from earlier this year indicated Spotify was already planning these increases.
Now, the big question: what about us here in the US? For the time being, US pricing remains unchanged. We had a good run, as prices remained the same for 12 years, before increasing in 2023 and 2024.
Source: The Verge