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Spotify’s first US price hike for Premium is coming next week
(www.theverge.com)
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this post was submitted on 22 Jul 2023
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There is a weak defence to be made that they have never raised prices. In the context of our current situation this is just more profiteering.
Salesforce, up 24% https://www.salesforce.com/news/press-releases/2022/05/31/q1-fy23-results-update/
Spotify up 14%, 2.8 billion in profits https://newsroom.spotify.com/2023-04-25/spotify-reports-first-quarter-2023-earnings/
Apple, 100 billion in Q2 2023
The list goes on and on. All of these companies have laid off staff. Spotify laid off 200.
I've never liked the subscription pricing model and have avoided all of these services. I can't afford hundreds of dollars a year on things that aren't staple items.
The link you provided says that Spotify actually lost ~$170 million. $3 billion is the revenue.