Spotify to raise premium subscription price in select markets from September
The subscription price will rise to 11.99 euros ($13.86) per month from 10.99 euros in markets including South Asia, the Middle East, Africa, Europe, Latin America and the Asia-Pacific region.
Over the next month, subscribers will receive an email explaining the price increase.
Shares of Spotify rose about 3% in premarket trading. They have risen about 40% so far this year.
Last month, the company forecast its quarterly profit below analysts' estimates, as higher taxes related to employee salaries outweighed music streaming demand.
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