New Delhi: In an recent Spotify have posted an blog in which they have provided an sad new for those users who live outside the United States, in that post, Spotify has mentioned that, they are increasing the subscription price for the several regions outside of the US, including the South Asia, the Middle East, Africa, Europe, Latin America, and the Asia-Pacific. Spotify said that subscribers will see an increase in prices starting next month. Users will receive an email with the details about the updated pricing.
The email shows that Spotify is increasing €1 increase in monthly pricing, which was already implemented in regions like Spain, Italy, and Portugal since last July. But there is no clarification yet on how it would translate for other countries, especially those in Asia and the Middle East. But there will be a question in many of the users’ minds as to why Spotify is increasing its subscription pricing.
This price increase is suspected to come as a result of Spotify’s quarterly earnings reports, in which the platform did see a growth in paid subscribers, but its profit fell behind what analysts had predicted. As a result, Spotify’s stock price fell by 11.5%, slashing $16 billion from the music streaming giant’s market cap.
The Music Business asked Spotify CEO Daniel Ek why the company is not increasing its subscription prices more often, to which the CEO replied that the company wants to retain its users rather than focusing on short-term gains. So far, the US has not been impacted by the increased prices, but it is likely that Spotify might update the prices for its Premium tier in the US sometime later this year.
But there is also one question, however, they have increased the pricing of their subscription, but by this they can loss some the users from India, because there are not much users are using this application, and if they are using, but after seeing the pricing they will not purchase the subscription, and they will see ads for sometime, and they are will be okay with this, because of the pricing, or might use the YouTube for listening music, so there will be some users will not purchase the subscription of Spotify.
