Spotify has introduced plans to boost the worth of its Premium Particular person subscription in a number of global markets, efficient from September. The month-to-month charge will improve from €10.99 to €11.99 in areas together with South Asia, the Center East, Africa, Europe, Latin America, and Asia-Pacific.
The streaming firm confirmed that subscribers would obtain e mail notifications detailing the change over the approaching month. The transfer is a part of Spotify’s broader technique to strengthen its revenue margins.
Causes for the worth hike
This follows earlier value changes and a sequence of cost-cutting measures which have contributed to the corporate’s first annual revenue in 2024. Regardless of an increase in each month-to-month lively customers and paying subscribers through the second quarter, Spotify reported a quarterly loss attributed to greater taxes tied to worker compensation. The tax impression has additionally led to a extra cautious revenue outlook for the third quarter.
In a bid to diversify its providing and entice extra customers, Spotify has been growing its video content material by its Associate Program. The initiative offers podcast creators with monetisation instruments and has seen a rising variety of contributors, considerably boosting the platform’s video catalogue.
Moreover, the agency is starting to learn from regulatory modifications in the US. Apple has accredited Spotify’s app replace that features subscription pricing and exterior fee hyperlinks, following a court docket ruling that blocked Apple from charging fee on off-app purchases. Spotify’s CEO Daniel Ek famous that this improvement has resulted in a “very constructive uptick” within the US market. He added that related regulatory shifts in Europe and the UK may additional profit Spotify and different builders.
Spotify now affords 7 million podcasts
Spotify revealed that its platform now contains a total of seven million podcasts, together with greater than 430,000 video podcast titles. As well as, it affords over 350,000 audiobooks obtainable for one-time buy. As of June 2025, the corporate employed 7,309 full-time workers throughout the globe.
(With inputs from Reuters)
