A display shows the brand of Spotify on the ground on the New York Inventory Change on Dec. 4, 2023.
Brendan Mcdermid | Reuters
Spotify will increase costs because it invests in new options and targets 1 billion customers, the Monetary Instances reported on Sunday citing the music streaming supplier’s Co-President and Chief Enterprise Officer Alex Norstrom.
The will increase can be accompanied by deliberate new providers and options, the FT cited Norstrom as saying in an interview.
Spotify didn’t instantly reply to a Reuters request for remark.
Earlier in August, the Swedish agency stated it might improve the month-to-month worth of its premium particular person subscription in some markets from September, because it seems to enhance revenue margins.
It stated the worth will rise to 11.99 euros ($14.05) from 10.99 euros in markets together with South Asia, the Center East, Africa, Europe, Latin America and the Asia-Pacific area.
“Value will increase and worth changes and so forth, that is a part of our enterprise toolbox and we’ll do it when it is sensible,” Norstrom informed the newspaper.
Value will increase mixed with cost-cutting efforts lately helped Spotify obtain its first annual revenue final yr.
