SPOT - Spotify Stock Is Surging Today: Here's Why | Benzinga
Spotify Technology S.A. (NYSE:SPOT) shares are trading higher Wednesday on reports the company will raise monthly subscription prices.
What To Know: Spotify plans to raise the price of its music streaming service by approximately $1 to $2 per month in several key markets, according to Bloomberg.
The price increases are expected to impact five markets by the end of April including the UK, Australia and Pakistan. People familiar with the matter also said the company plans to raise prices in the U.S. later this year.
The report indicates that the price increases are expected to help cover the cost of audiobooks, which Spotify introduced late last year. As part of paid subscription plans, customers get up to 15 hours ...