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Spotify hikes Premium subscription price across multiple regions
Spotify is bumping up its Premium subscription price from €10.99 to €11.99 in several regions, including South Asia, the Middle East, Africa, Europe, Latin America, and Asia-Pacific.
The company says this move will help them invest in new features and work toward their goal of reaching a billion users.
Price changes are essential for business growth, says Norstrom
Spotify's Co-President Alex Norstrom explained that changing prices is key for keeping the business strong and growing.
Alongside these hikes—which started rolling out from September—Spotify has also been cutting costs behind the scenes.
These efforts paid off with their first-ever annual profit last year, as they try to balance better services with staying financially healthy.