By the end of this month, the streaming giant will raise fees for the second time in a year in five markets, including the UK, Australia and Pakistan.
Already a subscriber?Spotify plans to raise the price of its popular audio service in several key markets for the second time in a year, a crucial step towards reaching long-term profitability.
The Swedish audio company is also going to introduce a new basic tier that will offer music and podcasts – but not audiobooks – for the current $US11 monthly price of an individual premium plan, said the people. Users of that plan will need to pay for audiobooks.The new basic tier is the first of what will be several new pricing options from Spotify.
Management has tried to reduce Spotify’s reliance on the music industry by offering other types of entertainment. Netflix has doubled the price of its most popular plan in recent years. But Spotify raised prices in only major markets last year for the first time since introducing its premium audio service to the US in 2011. Despite concerns that some subscribers would cancel, the company posted its best year of user growth ever, with 113 million new sign-ups to its free and paid services.The success of the price increase has given management confidence to seek even more.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Asked the question’: Next step for India-Pakistan epic in Australia after fresh blowCricket: Jonny Bairstow was made to rue dropping Virat Kohli on zero, with the King going on to smash a man of the match innings.
Read more »
Australia weather: BoM forecasts heavy rain and storms across south-east AustraliaStorms to sweep through Tasmania and Victoria after Melbourne experiences driest March on record, while Sydney to be drenched on Friday
Read more »
Cricket Australia ‘would love to’ host India-Pakistan blockbuster … but not next summerIndia and Pakistan will be in Australia at the same time early next season, but Cricket Australia ruled out hosting a tri-series as the full season schedule was released on Tuesday.
Read more »
Cricket Australia ‘would love to’ host India-Pakistan blockbuster … but not next summerIndia and Pakistan will be in Australia at the same time early next season, but Cricket Australia ruled out hosting a tri-series as the full season schedule was released on Tuesday.
Read more »
Cricket Australia ‘would love to’ host India-Pakistan blockbuster … but not next summerIndia and Pakistan will be in Australia at the same time early next season, but Cricket Australia ruled out hosting a tri-series as the full season schedule was released on Tuesday.
Read more »
Joni Mitchell follows Neil Young in returning her music to SpotifyMitchell originally acted in solidarity with Young’s protest over the spread of vaccine misinformation on the platform, which he has now ended
Read more »