Spotify raises Premium prices globally

Spotify has started rolling out global price hikes for its Premium subscription.

The changes have already affected users in Europe, South Asia, the Middle East, Africa, the Asia-Pacific region, and Latin America, according to The Verge. Notifications about the new pricing will begin reaching users over the coming weeks.

In Spain, Italy, and Portugal, for example, the monthly cost of a Premium subscription has increased from €10.99 to €11.99. In countries like France, Belgium, and the Netherlands, where prices were raised earlier, no additional changes are currently planned. Spotify has not released a full list of affected countries.

While the announcement came shortly after a quarterly earnings report that disappointed investors and sent Spotify’s stock down by 11.5%, the price adjustment doesn’t appear to be a short-term fix. According to the Financial Times, the company had been planning a pricing review in Europe and Latin America since spring as part of a long-term monetization strategy.

Spotify CEO Daniel Ek emphasized that the company isn’t chasing quick revenue spikes but is focused on user retention and long-term profitability. Investors responded positively: following the pricing update, Spotify stock began to recover from its earlier losses.