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Spotify is raising prices for . The company just said that Premium subscribers throughout the world will be receiving an email within the next month that outlines the increase.
It hasn’t announced which countries will be impacted, but did say that the areas include South Asia, the Middle East, Africa, Europe, Latin America and the Asia-Pacific region. That’s most of the world.
The company didn’t provide specific details regarding the price increase, but did post a sample email in a blog post that showed an uptick of around $1 per month. The email notes an increase from €10.99 to €11.99 in an unspecified country. In American dollars, the new cost shakes out to around $13.90. The price for American consumers is still $12 per month.
An email announcing a price increase.
(Spotify)
Spotify announced this news after a disappointing earnings report in which it missed revenue expectations. This caused the stock to and for CEO Daniel Ek to announce that he’s “unhappy” with the company’s current performance.
The Verge and found that some countries have already experienced a recent price increase. The new subscription cost has already been applied to users in Spain, Italy and Portugal.
Ek has been branching away from the music and podcast streaming business in recent months. He recently in a defense startup called Helsing.
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