Spotify Lifts Monthly Premium Fee to $12.99

According to CNBC, Spotify Technology S.A. (NYSE:SPOT) past raised the Premium terms for U.S. users successful June 2024 to $11.99 per month. As stated successful the company’s announcement,

Over the adjacent month, Premium subscribers crossed the U.S., Estonia, and Latvia volition person an email explaining what this update means for their subscriptions. Occasional updates to pricing crossed our markets bespeak the worth that Spotify delivers, enabling america to proceed offering the champion imaginable acquisition and payment artists.

Photo by Alexander Shatov connected Unsplash

On the aforesaid day, Jefferies trimmed the terms people connected Spotify Technology S.A. (NYSE:SPOT) to $750 from $800 and maintained a ‘Buy’ rating. The steadfast keeps the institution arsenic a “Top Pick” owed to projections of gross acceleration successful 2026, driven by terms increases and sustained subscriber momentum. Additional upside imaginable stems from super-fan and different upsell initiatives. Jefferies calls the institution an “undermonetized asset” with a “clean revision story,” saying that its estimates are astir 15% up of statement connected 2027 escaped currency travel per share.

Spotify Technology S.A. (NYSE:SPOT) is simply a Luxembourg-Headquartered supplier of audio streaming subscription services. Founded successful 2006, the institution operates done 2 segments: Premium and Ad-Supported.

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Disclosure: None.