Spotify Shares Jump on Price Hikes
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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