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Spotify is free to use, but to unlock more features, music lovers can subscribe to one of the streaming service’s premium tiers. The most basic of these plans for single users is currently $9.99 per month in the US. But that could change soon.
Yesterday (April 25th) on a conference call discussing Spotify’s first quarter earnings ( billboard Note), Spotify CEO Daniel Ek said: [with major music industry stakeholders]”
Ek also said, “Last year we raised prices in 46 different locations and markets, and even those markets were not performing well. is really happy — we have that capability — and now we have a lot of data to back it up. It’s not a major part of our strategy, nor what we think it is. Instead, we’re working with our label partners. […] Find out what is the best opportunity to do it. And it’s a more complicated deal. I will pick it up when the time is right,” he said.
This comes after Spotify had total revenue of about $3.3 billion in the first quarter of 2023. This is a 14% increase for him compared to 2022, billboard “Macroeconomic concerns weighed down Spotify’s advertising business by about $20 million, so it’s slightly lower than the company expected,” it said.
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