Spotify is raising prices for many international customers. The company has just announced that premium subscribers around the world will receive an email within the next month informing them of the increase.
The company didn’t say which countries would be affected, but it did say that it would be in South Asia, the Middle East, Africa, Europe, Latin America, and Asia Pacific. That’s almost the whole world.
The company did not provide specific details about the price increase, but published a sample email on its blog that shows an increase of about $1 per month. The email states that the price increased from €10.99 to €11.99 in an unspecified country. In US dollars, the new cost is about $13.90. The price for US consumers is still $12 per month.
Spotify announced the news after a disappointing earnings report in which the company failed to meet revenue expectations. This led to an 11 percent drop in shares, and CEO Daniel Ek said that he was “unhappy” with the company’s current performance.
The Verge researched the Internet Archive and found out that some countries have already seen recent price increases. The new subscription price has already been applied to users in Spain, Italy, and Portugal.
In recent months, Ek has stepped away from the music and podcast streaming business. He recently led a $694 million investment in a defense startup called Helsing.
