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Spotify needs to keep the price hits coming

Livemint

Livemint · 1y ago

Spotify needs to keep the price hits coming

Spotify's first-quarter results exceeded expectations, with a 20% increase in revenue and 168 million euros in operating income. This strong performance has led to a surge in the company's stock price and has investors optimistic about its future prospects. Analysts predict further growth in revenue and operating income, with some expecting price increases and the launch of new subscription tiers to contribute to this growth. However, they also highlight the need for Spotify to balance user growth with profitability and address concerns around royalty payments to record labels.

Related News

Spotify to Twitch: check services affected as major outage hits Google Cloud

Economic Times

Economic Times · 3m ago

Spotify to Twitch: check services affected as major outage hits Google Cloud

An outage at Google Cloud affected multiple services, including Spotify, Discord, and Google Meet, causing disruptions for thousands of users. According to Downdetector, over 10,000 issues were reported on Google Cloud and more than 44,000 on Spotify around 2:46 PM ET. The outage also impacted platforms like Twitch and Gmail. Google Cloud engineers are working to resolve the issue, with some recovery reported, although full resolution timing remains uncertain.

Spotify’s latest AI feature builds playlists based on text descriptions

The Verge

The Verge · 1y ago

Spotify’s latest AI feature builds playlists based on text descriptions

Spotify has launched a beta tool called AI Playlist, allowing users to create curated tracklists based on text descriptions. Initially available to Spotify Premium subscribers in the UK and Australia on mobile devices, the feature can be accessed by entering a prompt, such as "music to read to on a cold, rainy day". The AI then generates a playlist of 30 songs that match the mood, which can be tweaked and saved. Users can include a combination of genres, moods, artists or decades in their prompts. Spotify plans to continue improving the playlist generator in the coming months.

Spotify flags price hikes as it introduces new services: Report - The Economic Times

Economic Times

Economic Times · 26d ago

Spotify flags price hikes as it introduces new services: Report - The Economic Times

Spotify is set to increase subscription prices as it invests in new features, aiming to reach one billion users. The premium price will rise to €11.99 from €10.99 in various regions. Co-President Alex Norstrom emphasized that price adjustments are a strategic part of their business model. This initiative, along with cost-cutting measures, previously helped Spotify achieve its first annual profit. The changes are expected to enhance profitability, complementing the launch of new services.

Spotify weighs $5.99 premium for added features, ticket access

Economic Times

Economic Times · 7m ago

Spotify weighs $5.99 premium for added features, ticket access

Spotify is considering a premium Music Pro tier costing up to $5.99 extra per month, offering features like higher-quality audio, remixing tools, and concert ticket access. This new service, potentially launching this year, would vary in price by region. Spotify is still finalizing details, possibly using AI for features, and engaging with ticket sellers. Spotify currently charges $11.99 monthly for individuals in the U.S., seeking to enhance offerings with deals with major music groups.

Spotify to raise premium subscription price in select markets from September - The Economic Times

Economic Times

Economic Times · 1m ago

Spotify to raise premium subscription price in select markets from September - The Economic Times

Spotify will increase its monthly premium individual subscription price from 10.99 euros to 11.99 euros in select markets, including South Asia, the Middle East, Africa, Europe, Latin America, and the Asia-Pacific region, starting in September. The price change aims to enhance margins and support ongoing investments in features. Subscribers will receive email notifications about the adjustment. Shares of Spotify rose by about 3% in premarket trading, with a 40% increase seen so far this year.

Google's secret deal allowed Spotify to bypass Play Store fees

Livemint

Livemint · 1y ago

Google's secret deal allowed Spotify to bypass Play Store fees

Music streaming giant Spotify pays Google a zero percent commission when users purchase its subscription through its own payment system on Android, according to a Google executive testifying in the ongoing Epic vs. Google antitrust trial. Google usually charges a 15% commission for in-app subscriptions, but that drops to 4% if app makers use the User Choice Billing program instead of Google's payment processing. Google fought to keep the Spotify deal private, arguing it could impact negotiations with other app developers. The trial centers around Epic Games' allegations of anti-competitive behavior by Google.

Senators urge FTC to investigate Spotify’s higher-priced bundled subscription | TechCrunch

TechCrunch · 2m ago

Senators urge FTC to investigate Spotify’s higher-priced bundled subscription | TechCrunch

Two U.S. senators have urged the FTC to investigate Spotify for allegedly converting standard premium subscriptions into higher-cost bundled ones without user consent. This move reportedly reduced royalty payments to creators, harming the music community and consumers. Spotify had informed users in advance of the price increase and offered easy cancellations. However, publishers reportedly lost $230 million in the first year due to these changes.

Spotify VS Apple Music: The Streaming Showdown

StartupTalky

StartupTalky · 1y ago

Spotify VS Apple Music: The Streaming Showdown

The article compares Spotify and Apple Music in various aspects such as content, features, platform compatibility, exclusive content, and sound quality. Spotify stands out for its podcast integration and social features, while Apple Music excels in offering lossless and spatial audio. Both platforms have their strengths and cater to different preferences. It ultimately comes down to individual needs and preferences when choosing between the two. Other streaming platforms like Tidal, Amazon Music, and YouTube Music are also mentioned as alternatives.

Mark Zuckerberg hits out at Apple's 'onerous' new App Store rules

Business Insider

Business Insider · 1y ago

Mark Zuckerberg hits out at Apple's 'onerous' new App Store rules

Meta CEO Mark Zuckerberg has criticized Apple's new App Store rules, calling them "so onerous" that he doubts any developer would choose to use them. Zuckerberg stated that he doesn't believe the changes will make a difference for Meta because of the way Apple has implemented them. He also mentioned that the changes are "at odds" with the intent behind the European Union's Digital Markets Act. Spotify CEO Daniel Ek has also criticized the changes, while Xbox president Sarah Bond called Apple's policy a "step in the wrong direction."

IIP hits 4-month high in July

Economic Times

Economic Times · 22d ago

IIP hits 4-month high in July

India's industrial output reached a four-month peak of 3.5% in July, largely propelled by a robust manufacturing sector, according to official data. The manufacturing sector hit a six-month high, growing by 5.4% year-on-year. However, mining output saw a significant decline, while electricity generation remained low. Despite the overall positive trend, challenges such as limited private investment due to global conditions persist. The outlook suggests potential growth in the coming months, supported by public sector investments.

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