Spotify Shares Jump on US Price Increase

Spotify Technology SA shares jumped on Monday after the world’s biggest music streaming platform said it would increase prices in the US for the second time in a year.

The Spotify Premium Individual Plan will increase by $1 to $11.99 a month from $10.99 a month, the Swedish company said in a statement on Monday. The Premium Family plan, which provides access for as many as six members in one household, is increasing by $3 to $19.99 a month from $16.99. The company last raised prices on its subscription plans for US listeners, its biggest market, in July 2023.