Your Spotify Plan Might Get More Expensive
Spotify (NYSE: SPOT) is planning to test a price increase for family plan subscribers in Scandinavia to see whether it can raise prices in the region and around the world, according to a Thursday report from Bloomberg. The family plan in Sweden currently costs about 149 Swedish krona ($15.45) per month, similar to the pricing in the United States and the rest of Europe. The new pricing will be about a 13% increase.
The company is looking to maximize its revenue in markets where it's already a dominant force in music while expanding at lower prices into emerging markets in Asia and the rest of the world. It makes sense for the Swedish company to see if it can successfully raise prices in Scandinavia before testing other markets.
Spotify CEO Daniel Ek. Image source: Spotify.
Source Fool.com
