Spotify has announced a hike in its premium subscription fees for users in multiple regions, including the Middle East, Africa, Europe, Latin America, and the Asia-Pacific.
According to the streaming giant, impacted subscribers will begin receiving email notifications over the next month informing them of the change. In Europe, for instance, monthly subscription costs will rise from €10.99 to €11.99.
This is not the first time Spotify has adjusted its pricing. In 2023, it raised the U.S. monthly premium fee from $10.99 to $11.99 — marking the second price increase within a single year.
The move comes just days after Spotify posted disappointing financial results, falling short of revenue expectations and causing its stock to tumble by 11%. During the company’s earnings call, CEO Daniel Ek acknowledged the challenges, stating he was “unhappy with where [Spotify is] today,” while expressing confidence in the company’s long-term vision.
