Spotify raises prices in Europe and other regions: how much the subscription will increase.

Spotify has raised subscription prices for users in several countries around the world, including Europe, South Asia, the Middle East, Africa, Latin America, and the Asia-Pacific region. The subscription cost changed from 10.99 euros to 11.99 euros.

According to The Verge.

Which markets have already experienced price increases

Information about which countries have seen price increases has not been fully disclosed, but according to The Verge, new users in Spain, Italy, and Portugal are already paying 1 euro more. In those EU countries where subscription prices had previously increased (France, Belgium, Luxembourg, and the Netherlands), there has not yet been any further price increase.

Despite an increase in paid subscribers, Spotify's revenue fell short of analysts' expectations, leading to a 11.5% drop in the company's stock. Spotify's CEO, Daniel Ek, explained that the company rarely changes its rates, but in this case was forced to do so in order to retain users. In the USA, prices remain unchanged, having not increased for 12 years, but a review of rates is planned for 2023 and 2024.

In conclusion, Spotify raised subscription prices for users in some countries, resulting in a decrease in the company's market capitalization due to an unexpected drop in profits.