Spotify raises subscription prices

Spotify has reached 551 million monthly active users while also increasing subscription prices worldwide. The company, which increased its number of paying subscribers by 17 percent compared to last year, increased its revenues by 11 percent to $3.5 billion at the end of the second quarter. In the US, an individual premium plan will cost $10.99 per month instead of $9.99. With the increase made in Turkey as of July 24, Spotify prices start at 40 TL. Spotify, the leader of the online music market, increased its revenues by 11 percent to $3.5 billion in the second quarter. The company's advertising revenues increased by 12 percent in the second quarter. Spotify also announced an operating loss of $274 million in the second quarter. Spotify reached 551 million active users There are 220 million people worldwide who pay for Spotify subscriptions. The year-over-year growth in the number of paying subscribers was 17 percent. Overall, Spotify currently has 551 million monthly active users. That’s 331 million users using the service each month with a free, ad-supported account. Spotify had the most new users in a single quarter. The company added 36 million new active users in Q2. Overall, there was a 27 percent increase in premium subscribers and a 17 percent increase in active users compared to the same period last year. In other words, Spotify is growing nicely, but the company is attracting more free users than paid users. Of course, some users start with a free account and then become paid subscribers. Spotify’s premium subscribers now represent 39.9 percent of its overall user base. This is an important metric, as it’s much easier to make money from paid users than ad-supported users. Individual plan price goes up from $9.9 to $10.99 Spotify has announced that it’s raising its premium plans after months of resisting raising its prices. In the US, an individual premium plan will now cost $10.99 per month instead of $9.99. Similarly, the duo plan will cost $14.99 instead of $12.99, and the family plan will cost $16.99 instead of $15.99. The company is also rolling out these price increases to other markets, including most of the European Union, the United Kingdom, and some other countries in South and Central America, Asia, and Oceania. These changes will have an impact on Spotify’s profitability in the coming quarters. Spotify Premium membership prices have increased in all countries, including Turkey, following the US. As of July 24, Spotify’s price starts at 40 TL.