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Spotify to Raise Prices Later This Year: Report
Spotify plans to raise the price of its paid-subscription service later this year, according to a report in Bloomberg.
While multiple studies have shown that people are generally willing to pay more for music-streaming subscriptions, Spotify has worked to offer more for any price increase, with recent talk of early access to new music and other fan-centric options. The company faces a similar royalty challenge in books as it does in music, and only collects additional revenue from listeners who exceed the 15-hour limit. Spotify most recently reported some 236 million paying customers, making it the world’s largest paid subscription service by a wide margin.
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