Spotify Shares Jump on Price Hikes
Provided by
Dow Jones
By Dean Seal
Shares of Spotify Technology advanced after the company said it would raise prices.
The stock was up 5.5% at $313 in premarket trading. Shares had already gained 58% year-to-date when the market closed last week.
The audio streaming giant said that starting next month, individual Spotify Premium subscribers will have to pay $11.99 a month, up from $10.99 a month.
Duo plans, which allow for two users to share an account, will start costing $16.99 a month instead of $14.99 a month while family plans will cost $3 more at $19.99 a month.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
June 03, 2024 09:32 ET (13:32 GMT)
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