Spotify to raise premium subscription price in some markets — stock surges
1. Spotify to raise premium subscription prices in select markets for better margins. 2. Shares surged nearly 8% after the announcement, gaining 40% year-to-date. 3. Increased video content and user growth reported, although tax issues caused losses. 4. U.S. app update by Apple boosts Spotify's subscription visibility and external payments. 5. First annual profit anticipated in 2024 due to pricing and cost-cutting strategies.