Spotify Announces First Premium Plan Price Increase in the US

  • Spotify declared a rise in the premium subscription cost in the US by $1, attributing the step to market dynamics and the need for innovation.
  • The price adjustments make Spotify the last major music streaming service to increase subscription rates, following Apple, Amazon, and YouTube Music Premium.
  • The company had cut ~6% of its workforce earlier this year, and CEO Daniel Ek suggested that this move was to improve efficiency, reduce costs, and accelerate decisions.
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