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Spotify, which competes with rival services from Apple (NASDAQ:AAPL) and Amazon.com (NASDAQ:AMZN), has been under pressure to focus on profitability over user growth as recession-wary customers cut down on unnecessary spending.
The cost of Spotify’s ad-free premium plans would now all be priced at an additional $1 with the premium single at $10.99, duo $14.99, family $16.99 and the student costing $5.99.
Shares of the company were up more than 1% in trading before the bell.
