Spotify Technology (SPOT) will increase subscription prices by 1 Euro ($1.14) on individual subscriptions in countries across Europe and Latin America as early as June, the Financial Times reported Friday, citing people familiar with the matter.
The streaming service provider will not increase subscription prices in the US, according to the people.
Spotify has already started increasing prices in countries such as the Netherlands and Luxembourg, and these plans will intensify this summer, one of the sources told the Financial Times.
Streaming companies, including Spotify, are mulling charging higher for early access to music, the people said, adding that they could also offer early access to concert tickets to users who opt for the super-premium tier.
Spotify declined to comment when contacted by MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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