Spotify to raise prices in some markets, Bloomberg News reports

:Spotify Technology SA intends to lift prices on its plans by about $1 to $2 a month in 5 markets including the UK, Australia and Pakistan by the top of April, Bloomberg News reported on Wednesday, citing people accustomed to the subject.

Shares of the Swedish tune streaming provider rose better than 5 per cent in early shopping and selling.

Spotify will lift prices within the US, its supreme territory, later this 300 and sixty five days, in accordance with the file.

The firm is also going to introduce a fresh fundamental tier that will provide tune and podcasts — however now no longer audiobooks — for the fresh $11 monthly designate of a particular person top class thought, the file talked about.

The fresh fundamental tier is the first of what is going down to be several fresh pricing strategies from Spotify, the file added.

Spotify declined to screech on the file, when contacted by Reuters.

CEO Daniel Ek talked about earlier in February the firm has “a good deal of levers to drag, including designate will increase,” adding the investments within the podcasts were a ride on the business in 2023.

On a monthly foundation, the firm offers top class plans including $10.ninety 9 for a particular person, $14.ninety 9 for duo and $16.ninety 9 for household within the U.S., in accordance with the firm’s web philosophize.

Under the fresh pricing, particular particular person plans will bolt up by about $1 a month, whereas household plans and so-known as duo plans for couples will rise by $2, the Bloomberg file added.