Amid Audio Streaming Market Growth, Spotify Raising Prices
The nascent overall audio streaming market will grow to $200 billion by 2030, said Spotify CEO Daniel Ek Wednesday. On the number of music services competing in live audio, Ek said he expects it to be a feature that most…
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major platforms will have, comparing live audio to stories on platforms such as Instagram and Snap: It’s a "compelling feature set" that he believes artists will tap into. The U.S., meanwhile, joins other markets where Spotify has announced subscription price increases. The family plan is moving to $16 a month from $15 Friday. Spotify shares closed down 12% at $256.84 Wednesday following the company’s Q1 letter showing monthly average user growth “modestly below” internal expectations. Total monthly average users grew 24% year on year in Q1 to 356 million. Average revenue per user for paid subscribers was 7% lower year on year to $4.98.