Spotify did not immediately respond to a request for comment on whether it planned on raising US prices for Premium subscriptions. In its announcement Monday, Spotify said it was introducing the price increase "so that we can continue to innovate on our product offerings and features, and bring you the best experience." The announcement gave a shot in the arm to Spotify's share price during Monday's trading, with a nearly 7% increase in the stock price at the NYSE. The share price had dropped 11.5% on July ...

Core Points - Spotify announced an increase in premium subscription prices for users in various regions including the Middle East, Africa, Europe, Latin America, and Asia-Pacific, raising the monthly cost from €10.99 to €11.99 [1] - This price adjustment follows a similar increase in the U.S. last year, where prices were also raised from $10.99 to $11.99, marking the second price hike within a year [2] - The announcement comes after a disappointing earnings report where Spotify missed revenue expectations, leading to an 11% drop in stock price; however, shares rose 5% in pre-market trading following the price hike announcement [3] Financial Impact - The price increase is expected to affect multiple markets, potentially improving revenue streams for Spotify after a recent earnings miss [1][3] - CEO Daniel Ek expressed dissatisfaction with the current state of the company but remains confident in its future ambitions, indicating a strategic move to enhance profitability [3]