Spotify has announced a price increase for premium subscriptions in “multiple markets across South Asia, the Middle East, Africa, Europe, Latin America and the Asia-Pacific region.”
Price hike:
Though the company hasn’t yet announced specific figures, its press release includes an email screenshot detailing an individual rise from €10.99 to €11.99 per month from September on.
It doesn’t specify which country this letter applies to, or indeed which specific countries will be impacted by the price rise.
As per Digital Music News, however, India Today has signaled a 17% rise for Individuals (to Rs 139/$1.58 at present) and closer to 28% for Family (Rs 229 monthly/$2.61) in that territory.
The timing:
Spotify’s announcement comes less than a week after posting a loss in its Q2 results and a Premium ARPU dip.
The market has responded well, sending Spotify’s stock up 6% after a dip of 10+% following the Q2 reporting.
