4 days ago
Price hikes are music to the ears of Spotify investors - but UK subscribers won't be hit
Spotify shares rallied yesterday as the streaming giant announced price hikes in multiple countries – but not in the UK.
The Swedish music platform's stock jumped 5 per cent in New York after raising its Premium subscriptions, which allow customers to listen advert-free to music on their phones and computers.
Spotify's shares are up almost 50 per cent this year. Price rises will be introduced across South Asia, the Middle East, Africa, Europe, Latin America and Asia-Pacific.
For example, in Sweden, the monthly rate is up from £9.26 to £10.03. But not in the UK, whose stars, such as Dua Lipa, have amassed millions of listeners.
British fans last saw a price rise in April last year – from £10.99 a month to £11.99.
Global subscribers have risen 12 per cent to 276m, while sales rose 10 per cent to £3.6billion.
