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Spotify CEO Hints at Raise in U.S. Subscription Cost for First Time

Get ready to pay a bit more to stream your favorite songs. Spotify CEO Daniel Ek revealed on Tuesday (Apr. 25) his desire to raise prices for American subscriptions for the first time.

ā€œI think we are ready to raise prices, I think we have the ability to do that, but it really comes down to those negotiations,ā€ Ek said.

ā€œWe did raise prices in 46 different locations and markets last year, and even in those markets we were still outperforming,ā€ said Ek. ā€œI feel really good about our ability to raise prices over time and we have lots of data now that backs that up. We may have been marginally helped by being a lower-cost provider, but it isn’t a primary part of our strategy and it’s not something that we’re thinking about.ā€

According to TechCrunch, Spotify currently boasts over 515 million monthly active users, an increase of 5% from the previous quarter. The number is also a 22% increase from the last year. Of that number, 210 million are premium subscribers.





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