Overview
- The individual Premium plan in the United States increases from $11.99 to $12.99 with February billing, with users notified by email and a company blog post.
- Price increases were also announced for Estonia and Latvia starting in the same billing cycle.
- Spotify shares fell roughly 3% on January 15 trading after the announcement, with an earlier intraday drop near 4%.
- Previous analysis cited by the Financial Times projected a U.S. price hike could add about $500 million in revenue.
- The decision follows a leadership transition as cofounder Daniel Ek stepped down and Gustav Söderström and Alex Norström took over as co-CEOs.