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Spotify boosts subscribers amid price hike

Spotify boosts subscribers amid price hike

According to the figures, the average income of each user is currently 4.72 dollars, which represents a 6% year-on-year drop, as well as a small decrease from the 4.79 dollars registered in the previous quarter, so the price increase seeks to reverse this drop in income.

Spotify is at a time when competition is starting to grow. Although for several quarters it has had a tough battle with Apple, TikTok Music has now joined the competition, an application that recently announced greater coverage and commercial agreements with the largest record labels in the world.

However, the internal outlook is not the best for its employees, since a few months ago it announced the layoff of 6% of its workforce worldwide, which represented 600 employees, to which another 200 were added later.

In addition, it has had to close some of its projects, such as ClubHouse’s competitor, Spotify Live, and a gaming platform called Heardle. Regarding the possibility of launching a high-resolution music service, the company did not give details, although there is a report that it would be released by the end of the year.

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