According to a report by Bloomberg News, Spotify may charge up to $5.99 per month on top of existing subscriptions for a new music streaming service, which will grant users access to higher-quality audio, remixing tools and concert tickets.
The so called “Music Pro” tier may be introduced this year, the report stated, citing unnamed sources.
The details are still being worked through, while prices for the service will depend on geographic location, Bloomberg News said.
In the United States, Spotify charges $11.99 a month for its individual tier. The cost goes up to $19.99 per month for the family plan.
Stock Performance
The shares of Spotify Technology S.A. (SPOT) closed 1.56% ($10.14) lower at $638.18 in New York on Friday.
The company’s total market cap now stands at $130.089 billion.
The shares of Spotify Technology S.A. (SPOT) went up 138.08% in 2024, compared with a 13.32% gain for the benchmark index, NYSE Composite (NYA).
The company’s shares have risen another 42.65% so far this year.
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