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Beginning in July, Spotify’s US subscribers will pay $1 more per month for its ad-free premium plan, rising to $11.99 per month — a 20% increase over the past two years.
Premium revenue grew 17% year over year while ad-Supported revenue grew 12% to an all-time quarterly high of €501 million, according to Spotify.
In April 2020, Spotify reached 133 million premium users. In countries affected by the COVID-19 pandemic, Spotify registered a fall in users in late February, but it has seen a recovery. In March 2022, Spotify had 182 million premium subscribers.
Spotify is finally set to hike the price of its music streaming subscription in the U.S. to $10.99 per month for an individual plan — up one dollar — according to a Wall Street Journal report.
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Spotify, a music streaming company, has attracted significant criticism since its 2006 launch, mainly over artist compensation. Unlike physical sales or downloads, which pay artists a fixed price per song or album sold, Spotify pays royalties based on the artist's "market share"—the number of streams for their songs as a proportion of total songs streamed on the service.
As expected, Spotify has finally raised the price of its premium music-streaming subscription in the U.S. to $10.99 per month — the first such price hike since the service launched in the ...
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Spotify is hoping to jump-start its push into audiobooks — announcing that paying subscribers can access up to 15 hours free listening per month from among 150,000 titles.