Core Viewpoint - Spotify is increasing the monthly price of its premium subscription to 11.99 euros ($13.87) starting in September, impacting various global markets [1][2] Group 1: Price Increase Details - The price hike of 1 euro will affect markets in South Asia, the Middle East, Africa, Europe, Latin America, and the Asia-Pacific region, although specific countries were not listed [1] - The current price for US-based subscribers remains at $12, but previous increases suggest a potential future rise [2] Group 2: Company Strategy and Market Reaction - Spotify stated that the price increase is intended to support innovation in product offerings and enhance user experience [2] - Following the announcement, Spotify's share price rose nearly 7% during trading, recovering from an 11.5% drop on July 29 due to a disappointing profit forecast [2]

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]