Spotify Technology SA, the Swedish audio streaming platform, beat analyst expectations in its second-quarter results with its total active users rising 27% to 551 million.

Key Insights

Market Reaction

(Reuters) -Spotify Technology on Monday raised prices for its premium plans across several countries including the United States and United Kingdom, as the music-streaming company looks to boost profitability in an uncertain economy.

The move will result in a $1 price increase for Spotify's U.S. plans, with the premium single now starting at $10.99, duo at $14.99, family at $16.99 and the student plan at $5.99.

Spotify has moved in recent months to boost margins with hundreds of layoffs and a restructuring of the podcast unit, which it had built up with billions of dollars in investment.

The price increases come at a time when streaming services, both audio and video, are under rising investor pressure to boost profitability after years of prioritizing user growth.

Rivals services from Apple and Amazon.com and Tidal have all increased prices this year, while YouTube also hiked prices last week on its monthly and annual premium plans in the U.S. for the first time since the subscription service was launched in 2018.

Spotify, which had indicated in April that it would raise prices in 2023, had also raised prices in 46 countries last year.

Read more on tech.hindustantimes.com

All news from tech.hindustantimes.com

About this in other media

Diablo 4, Final Fantasy 16, and Street Fighter 6 Top US Sales Charts for June 2023 gamingbolt.com /1 year ago

Meta to ask EU users' consent to share data for targeted ads tech.hindustantimes.com /1 year ago

The Top Final Fantasy 14 Dawntrail Content From FanFest's Keynote mmorpg.com /1 year ago

The website gamebastion.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

29.07 / 08:35

Apple iOS 17 update to roll out big features for Safari users on iPhones

With each update in its software, Apple iPhones become even more useful to have around you at all times. From productivity to entertainment, all aspects are set to get a major boost when the iOS 17 update is rolled out sometime in September.

29.07 / 08:35

UPS Google Shocking reason why you need Google Search if you use Google Bard

29.07 / 07:31

Twitter CEO Elon Musk says X monthly users have reached new high in 2023

29.07 / 03:27

UPS CEO Tesla executives hold market entry talks with India investment agency

29.07 / 03:27

Platform Twitter 'X' logo installed atop Twitter building, spurring San Francisco to investigate permit violation

29.07 / 02:47

Twitter Samsung fishing Galaxy Tab S9 Ultra And Its S Pen Can Be Used While Submerged In Water Thanks To The New IP Rating

29.07 / 01:35

UPS Digital Booking My Eyeball Met With Sam Altman’s Crypto AI Scanner

29.07 / 01:35

UPS Digital Provident Watchdog questions legality of ChatGPT-founder Sam Altman's Worldcoin biometric data collection

29.07 / 01:35

UPS Provident Discover Software Apple DoorDash Is Working on an AI Chatbot to Speed Up Food Ordering

28.07 / 23:25

UPS Marvell Google Celebrity Marvel Contest of Champions Battlerealm Brawl Event Calls For Top Players

28.07 / 21:21

Raven Diablo Patch 1.1.1 Druid Class Changes - Spirit Generation Buffed, Spirit Boons and Minions Buffed

28.07 / 19:54

Simulation UPS Intel An Impressive Travel Laptop: Living With an HP Dragonfly G4

28.07 / 19:51

Diablo Patch 1.1.1 Barbarian Class Changes - Increased Fury Generation, Buffed Damage, Reworked Uniques

28.07 / 19:50

Twitter Apple 15-Inch MacBook Air Shipments 50 Percent Less Than Expected, Potentially Due To Lack of Innovation in Design

28.07 / 19:22

Diablo Upcoming Barbarian Class Changes - Increased Fury Generation, Buffed Damage, Reworked Uniques

28.07 / 16:53

UPS Intel CEO 5 things about AI you may have missed today: AI promise by Intel, US’ chip exports, and more

28.07 / 16:53

UPS Reddit Genshin Impact might slow rate of new five-star banners in Fontaine

28.07 / 16:49

Platform Counter-Strike UPS Diablo Twitch’s top 0.5% streamers generated 76% of June viewership | StreamElements State of the Stream

28.07 / 16:35

UPS CEO Assurant GameStop fired its CEO two months ago, now its CFO has resigned

28.07 / 15:43

UPS The League of Legends Blue Essence Emporium returns soon

28.07 / 15:31

Action Adventure UPS HaZimation launches Moontopia, a sci-fi shooter on Fortnite built by filmmakers

28.07 / 14:43

UPS Extreme Marvell Booking Seth Rogen quietly and carefully became the biggest producer of indie comic book cinema

28.07 / 14:43

Digital Amazon Sony Where to pre-order the Spider-Man 2 PS5 console

28.07 / 14:31

Adventure Minecraft UPS Nintendo Pikmin 4 tops Japan sales charts, dethroning Tears of the Kingdom

28.07 / 13:25

Platform CEO Booking Apple Devar uses generative AI to create 3D AR images from text prompts

28.07 / 11:49

Reddit League of Legends Arena “stole” its best item from April Fool’s

28.07 / 10:09

Fighting UPS We're even more excited about this new Star Wars show – thanks to comparisons with the best lightsaber duel

28.07 / 10:07

CEO GameStop CFO Saadeh-Jajeh resigns

28.07 / 09:40

UPS football The TV Show Thread - General Discussion Forum - Page 208

28.07 / 09:40

Platform Action RPG UPS PS4 Action RPG The Legend of Nayuta Charms in New English Gameplay | Push Square

28.07 / 09:40

Action RPG Final fantasy discussion thread - General Discussion Forum - Page 174

28.07 / 09:39

Music The Movie Thread - General Discussion Forum - Page 410

28.07 / 09:37

UPS FIFA Nintendo Diablo UK Sales Charts: Pikmin and Horses Overtake Most PS5, PS4 Games in the Top 10 | Push Square

28.07 / 09:37

RPG UPS Amazon Blue Protocol Might Be the Competition Genshin Impact Needs | Push Square

28.07 / 09:37

Twitter Reddit 200 Evacuated from Genshin Impact Event Following Bomb Threat | Push Square

28.07 / 04:27

Simulation UPS Google An AI Startup Is Helping North American Diesel Trains Clean Up Their Act

28.07 / 04:27

Platform Twitter After Twitter rebranding, Elon Musk takes @X handle from user; offers merch in return

28.07 / 03:27

UPS NVIDIA Nvidia's next-gen flagship rumored to receive a huge bandwidth increase, thanks to a 512-bit memory bus

28.07 / 03:01

Platform UPS Provident AMD AMD Unleashes The Ryzen 9 7945HX3D, First 3D V-Cache CPU For Laptops & Powers ASUS ROG SCAR 17 X3D

28.07 / 02:49

UPS Google Facebook The Consequences for Tech Whistleblowers: ‘People Come After You’

28.07 / 01:33

Mobile AMD AMD officially launches mobile X3D gaming chip exclusively in just one laptop 'for the foreseeable future'

28.07 / 01:17

Mobile UPS Provident Intel AMD AMD’s Ryzen 9 7945HX3D could be its slam-dunk gaming laptop chip

28.07 / 01:05

UPS AMD DiRT Cyberpunk AMD Brings 3D V-Cache to Laptops With Ryzen 7945HX3D Chip

27.07 / 23:23

UPS Remnant 2 is a hit, beating everything except CS:GO on Steam's weekly top sellers list

27.07 / 23:21

Fighting boxing City of Heroes Rebirth Opens Pandora's Box With Issue 6: Dawn of Genesis

27.07 / 22:27

Action Provident Microsoft Software skeleton US Senator: It's Time to Investigate Microsoft for 'Negligent Cybersecurity'

27.07 / 21:57

UPS Amazon boxing The Legend Of Zelda Manga Box Sets Receive Big Discounts At Amazon

27.07 / 21:27

Call of Duty devs refuse to stop torturous Modern Warfare 3 teases - now there's a Warzone reveal event

27.07 / 21:23

Strategy Amazon CEO GameStop CFO resigns

27.07 / 20:43

Adventure Wii Nintendo There Are Now 15 Legend Of Zelda Games Playable On Switch

27.07 / 19:15

PlayStation 5 PC Xbox Series X How Yakuza Made A Legend Of Its Long-Time Hero Over Two Decades

27.07 / 18:55

UPS Provident NVIDIA Why gaming laptops are actually great for back-to-school and content creation

27.07 / 18:27

Strategy Samsung NVIDIA AMD NVIDIA Could Potentially Generate $300 Billion In Revenue From AI-Driven Sales By 2027

27.07 / 17:07

Overwatch Action Dota Counter-Strike NVIDIA NVIDIA Reflex can give you a competitive edge in shooters like Overwatch 2 and Apex Legends

27.07 / 16:37

UPS Hades' highest difficulty is so tough that top players say a single attempt takes at least 85 hours to pull off

27.07 / 16:33

Fighting UPS Progressive Apex Legends Players Are Abandoning Ranked Mode & Here’s Why

27.07 / 16:15

New Apex Legends playlists accidentally reveal huge ring changes

27.07 / 15:43

Adventure UPS Riot reassures you it’s “okay to fail” at League of Legends Arena

27.07 / 15:37

Puzzle Nintendo The Legend Of Zelda: Oracle Of Ages And Oracle Of Seasons Are Now On Nintendo Switch Online

27.07 / 15:13

UPS Sony The PlayStation 5 has topped 40 million lifetime sales

27.07 / 14:59

Mobile Amazon Google Software 5 things about AI you may have missed today: AI anchor interviews minister, AI eco boost for diesel trains, and more

27.07 / 14:57

Microsoft Sony Nintendo Sony Blows Microsoft Out of the Water, Tops 40 Million in PS5 Sales

27.07 / 14:43

PlayStation 5 PS5 PS5 sales top 40 millon

27.07 / 14:37

Provident DISH Reddit SpaceX Rolls Out 'Third-Gen' Starlink Wi-Fi 6 Router to Small Group in US

27.07 / 14:17

Party Action UPS TikTok Music Celebrity Activision suing TikTok user over Crash Bandicoot and pizza content

27.07 / 13:49

UPS Microsoft Former Game Record Holder Billy Mitchell Caught Doing Multiple Perjuries

27.07 / 12:24

Fighting Party UPS Digital Rangers D&D veterans are offering Baldur's Gate 3 newbies a crash course in tabletop combat

27.07 / 12:23

Action Apple boxing Oppenheimer's grandson reveals his least favorite part of the movie – and it's not the scene you might expect

27.07 / 12:15

UPS Nintendo The Legend Of Zelda’s Oracle Duology Is Now On Nintendo Switch Online

27.07 / 12:10

UPS Top 5 tips to buy a laptop for college

27.07 / 12:09

Mobile Provident NEET SS 2023 registration to begin online today: Step-by-step guide and top 5 prep apps

27.07 / 11:51

UPS It's mathematically impossible to beat Humble's latest bundle of legendary CRPGs before Baldur's Gate 3 comes out

27.07 / 11:39

Extreme Elden Ring 1.10 Patch Brings General and PvP-Exclusive Balance Adjustments

27.07 / 11:33

Data Protection Bill pioneers enhanced privacy and security for all - 10 top points

27.07 / 10:55

UPS Samsung NVIDIA Next-Gen NVIDIA GeForce RTX “Ada-Next” Gaming GPU Rumored To Feature Massive 512-Bit Bus

27.07 / 10:51

Warcraft Action Software Diablo Blizzard Issues Stark Warning to Diablo 4 Players: Stop Using Game-Modifying Software or Risk a Permanent Ban

27.07 / 09:45

Fighting UPS Progressive Assurant League of Legends fighting game Project L will be playable at EVO 2023

27.07 / 09:27

Nintendo The Legend of Zelda: Oracle of Ages & Seasons are now on Switch

Spotify users top expectations thanks to Gen Z listeners

Related News