Spotify has hiked rates of its subscription plans in several countries for the first time since 2011 as uncertainty in global economic outlook drives the music streaming giant to boost its profits.

“The market landscape has continued to evolve since we launched. So that we can keep innovating, we are changing our Premium prices across a number of markets around the world. These updates will help us continue to deliver value to fans and artists on our platform,” Spotify said in a blogpost on Monday (July 24).

From Monday, Spotify’s Premium Individual plan in US would cost $10.99, up from $9.99, while the Premium Duo plan has increased to $14.99 from $12.99.

The Premium Family plan will now be priced at $16.99, up from $15.99, and the Student plan will cost $5.99, up from $4.99.

<h2>Prices hiked in 54 countries&nbsp;</h2>

The price hike has been extended to 53 other countries, including Canada, France, the UK, Mexico, and Australia.

Existing subscribers would be notified of the changes via email and will be given a one-month grace period before the new prices take effect, “unless they cancel before the grace period ends”, Spotify said.

The move follows a similar decision taken by rival services Apple and Amazon.com and Tidal, who all increased prices this year, while YouTube increased its monthly and annual premium plans in the US last week for the first time since the subscription service was launched in 2018.

<h2>Dwindling profits&nbsp;</h2>

Spotify’s decision to hike subscription plans comes close on the heels of the company registering pre-tax losses of $265 million over the three months compared to a $99 m loss in the same period last year. Sales rose to $3.41 billion but missed analysts' expectations of $3.5 billion, according to BBC.

It is due to report its results for the second quarter on Tuesday.

In January, Spotify sacked 600 people, or 6 per cent of its workforce, saying that it expanded too quickly during the COVID-19 pandemic.

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Co-founder and chief executive Daniel Ek said he had been “too ambitious in investing ahead of our revenue growth”.

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In an April earnings call, Ek said the company would "like to raise prices in 2023".

"When the timing is right, we will raise it and that price increase will go down well because we're delivering a lot of value for our customers," Ek said. 
&nbsp;

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Spotify has hiked rates of its subscription plans in several countries for the first time since 2011 as uncertainty in global economic outlook drives the music streaming giant to boost its profits.

Spotify has hiked rates of its subscription plans in several countries for the first time since 2011 as uncertainty in global economic outlook drives the music streaming giant to boost its profits. “The market landscape has continued to evolve since we launched. So that we can keep innovating, we are changing our Premium prices across a number of markets around the world. These updates will help us continue to deliver value to fans and artists on our platform,” Spotify said in a blogpost on Monday (July 24). From Monday, Spotify’s Premium Individual plan in US would cost $10.99, up from $9.99, while the Premium Duo plan has increased to $14.99 from $12.99. The Premium Family plan will now be priced at $16.99, up from $15.99, and the Student plan will cost $5.99, up from $4.99. Prices hiked in 54 countries The price hike has been extended to 53 other countries, including Canada, France, the UK, Mexico, and Australia. Existing subscribers would be notified of the changes via email and will be given a one-month grace period before the new prices take effect, “unless they cancel before the grace period ends”, Spotify said. The move follows a similar decision taken by rival services Apple and Amazon.com and Tidal, who all increased prices this year, while YouTube increased its monthly and annual premium plans in the US last week for the first time since the subscription service was launched in 2018. Dwindling profits Spotify’s decision to hike subscription plans comes close on the heels of the company registering pre-tax losses of $265 million over the three months compared to a $99 m loss in the same period last year. Sales rose to $3.41 billion but missed analysts' expectations of $3.5 billion, according to BBC. It is due to report its results for the second quarter on Tuesday. In January, Spotify sacked 600 people, or 6 per cent of its workforce, saying that it expanded too quickly during the COVID-19 pandemic. Also read | Chandrayaan-3 successfully completes final Earth orbit-raising manoeuvre: ISRO Co-founder and chief executive Daniel Ek said he had been “too ambitious in investing ahead of our revenue growth”. Also read | Scientists suggest alien spaceship 'may have crash-landed on Mars’ In an April earnings call, Ek said the company would "like to raise prices in 2023". "When the timing is right, we will raise it and that price increase will go down well because we're delivering a lot of value for our customers," Ek said. WATCH WION LIVE HERE

Spotify raises premium subscription price plans in many countries

Spotify announced Tuesday that it is offering 300,000 audiobook titles for a la carte purchase to US users of the platform.

The Swedish company's decision to offer audiobooks on a pay-per-download basis is a departure from the monthly subscription model it uses for music and podcasts.

Users will buy audiobooks via a separate webpage, after which the purchase will be available in their Spotify libraries, the company said in a statement.

Earlier this summer the streaming platform&nbsp;indicated that the lucrative audiobook market was the next one it aimed to conquer. Last year they acquired the audiobook distributor Findaway.

Nir Zicherman, Spotify's Vice President and Global Head of Audiobooks and Gated Content, said the new offering "is just the first iteration of audiobooks on Spotify."

He said it's a starting point to expand availability to other markets, and build relationships with publishing houses and expand the selection of titles.

All of the current audiobooks already existed -- none were produced by Spotify directly.

Spotify had previously made some inroads into audiobooks, offering several free titles.

In 2020, the company posted a free audio version of the first volume of 'Harry Potter,'&nbsp;which was read by stars such as Daniel Radcliffe, who played the bespectacled young wizard in the movie.

Spotify's expansion places it in competition with other audiobook giants including Audible, an arm of Amazon, which currently dominates the market.

Grand View Research says the global market for audiobooks could grow sevenfold by 2030 to reach a worth of $35 billion.

Spotify announced Tuesday that it is offering 300,000 audiobook titles for a la carte purchase to US users of the platform. The Swedish company's decision to offer audiobooks on a pay-per-download basis is a departure from the monthly subscription model it uses for music and podcasts.

Spotify announced Tuesday that it is offering 300,000 audiobook titles for a la carte purchase to US users of the platform. The Swedish company's decision to offer audiobooks on a pay-per-download basis is a departure from the monthly subscription model it uses for music and podcasts. Users will buy audiobooks via a separate webpage, after which the purchase will be available in their Spotify libraries, the company said in a statement. Earlier this summer the streaming platform indicated that the lucrative audiobook market was the next one it aimed to conquer. Last year they acquired the audiobook distributor Findaway. Nir Zicherman, Spotify's Vice President and Global Head of Audiobooks and Gated Content, said the new offering "is just the first iteration of audiobooks on Spotify." He said it's a starting point to expand availability to other markets, and build relationships with publishing houses and expand the selection of titles. All of the current audiobooks already existed -- none were produced by Spotify directly. Spotify had previously made some inroads into audiobooks, offering several free titles. In 2020, the company posted a free audio version of the first volume of 'Harry Potter,' which was read by stars such as Daniel Radcliffe, who played the bespectacled young wizard in the movie. Spotify's expansion places it in competition with other audiobook giants including Audible, an arm of Amazon, which currently dominates the market. Grand View Research says the global market for audiobooks could grow sevenfold by 2030 to reach a worth of $35 billion.

Spotify offers 300,000 audiobook titles for purchase

Meghan Markle wants to trademark the historic word 'archetypes' after her announcement that the word would be used as the title of her upcoming Spotify podcast.&nbsp;

As per a report by the British newspaper The Daily Mail, the 40-year-old Duchess of Sussex has already made the application at the United States Patent and Trademark Office in March.&nbsp;

The paper also mentioned that the list of goods and services in the application includes anything "in the fields of cultural treatment of women and stereotypes facing women".&nbsp;

'Anything' means anything from podcasts, TV, DVDs, computer networks, the internet, streaming media and entertainment services distributed through cable or satellite TV.&nbsp;

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The application was apparently made by Archewell Audio, which is owned by Prince Harry and Meghan and based in Delaware, a state in the US considered a tax shelter.&nbsp;

In case they get the trademark, it would mean Harry and Meghan own the trademark rather than Spotify. The music streaming company paid the couple an alleged amount of $31 million to produce podcast content for their platform.&nbsp;

Reports have added that she could face legal challenges only because of the trademark application. Skincare and cleaning company business with 'Archetypes' as names might sue her.&nbsp;

The Harry and Meghan's Spotify podcast will finally debut this summer, the Archewell foundation had announced and will be hosted by Meghan. She will speak to historians and experts about women. &nbsp;

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In a trailer for the Archewell Audio project, Meghan said, "This is how we talk about women: the words that raise our girls, and how the media reflects women back to us. But where do these stereotypes come from? And how do they keep showing up and defining our lives?".&nbsp;

"I'll have conversations with women who know all too well how these typecasts shape our narratives. And I'll talk to historians to understand how we even got here in the first place," she added.&nbsp;

WATCH |&nbsp;Much-awaited driverless trucks still not ready in US

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Meghan Markle wants to trademark the historic word 'archetypes' after her announcement that the word would be used as the title of her upcoming Spotify podcast. As per a report by the British newspaper The Daily Mail, the 40-year-old Duchess of Sussex has already made the application at the United States Patent and Trademark Office in March.

Meghan Markle wants to trademark the historic word 'archetypes' after her announcement that the word would be used as the title of her upcoming Spotify podcast. As per a report by the British newspaper The Daily Mail, the 40-year-old Duchess of Sussex has already made the application at the United States Patent and Trademark Office in March. The paper also mentioned that the list of goods and services in the application includes anything "in the fields of cultural treatment of women and stereotypes facing women". 'Anything' means anything from podcasts, TV, DVDs, computer networks, the internet, streaming media and entertainment services distributed through cable or satellite TV. ALSO READ | US: Fast-food chain Burger King faces lawsuit over claims that ads are misleading customers The application was apparently made by Archewell Audio, which is owned by Prince Harry and Meghan and based in Delaware, a state in the US considered a tax shelter. In case they get the trademark, it would mean Harry and Meghan own the trademark rather than Spotify. The music streaming company paid the couple an alleged amount of $31 million to produce podcast content for their platform. Reports have added that she could face legal challenges only because of the trademark application. Skincare and cleaning company business with 'Archetypes' as names might sue her. The Harry and Meghan's Spotify podcast will finally debut this summer, the Archewell foundation had announced and will be hosted by Meghan. She will speak to historians and experts about women. IN PICS | Can the Queen go to prison? Here's a list of British Royals who faced legal troubles In a trailer for the Archewell Audio project, Meghan said, "This is how we talk about women: the words that raise our girls, and how the media reflects women back to us. But where do these stereotypes come from? And how do they keep showing up and defining our lives?". "I'll have conversations with women who know all too well how these typecasts shape our narratives. And I'll talk to historians to understand how we even got here in the first place," she added. WATCH | Much-awaited driverless trucks still not ready in US ×

Meghan Markle tries to trademark centuries-old word 'archetypes' for upcoming podcast

A podcast superhero universe is in the making as DC CCO Jim Lee revealed during Spotify's virtual live stream event, Stream On, that the company is planning podcasts about Wonder Woman, Batman, Lois Lane, Catwoman, Riddler and Batgirl.

Jim Lee said, "This is a long-term partnership between Warner Bros., DC and Spotify. I think the fanbase is going to respond to this in an exciting way and embrace it as something new and novel."

The talks had begun when last summer there was news of a podcast deal between Warner Bros. and Spotify. At the time, the companies teased that iconic DC superheroes and supervillains would be the subjects of multiple podcasts for the audio platform.&nbsp;

Among many others, the first project is DavidGoyer series ‘Batman Unburied’, which will explore the darker side of Bruce Wayne's psychology. It is expected to debut on Spotify later this year.

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Batman Unburied, the new <a href="https://twitter.com/DCComics?ref_src=twsrc%5Etfw">@DCComics</a> podcast from David S. Goyer, steps out of the shadows soon 🦇 <a href="https://twitter.com/hashtag/SpotifyStreamOn?src=hash&amp;ref_src=twsrc%5Etfw">#SpotifyStreamOn</a> <a href="https://t.co/w0XrdyoVE5">pic.twitter.com/w0XrdyoVE5</a>
— Spotify (@Spotify) <a href="https://twitter.com/Spotify/status/1363892623082205188?ref_src=twsrc%5Etfw">February 22, 2021</a></blockquote>
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The studio is also working on a separate Batman podcast for HBO Max. The comedic series, ‘Batman: The Audio Adventures’, will star Jeffrey Wright.

<a href="https://www.wionews.com/entertainment/hollywood/news-ryan-reynolds-confirms-he-will-not-feature-in-zack-snyders-justice-league-365592" hreflang="en">Ryan Reynolds confirms he will not feature in Zack Snyder's 'Justice League'</a>

A podcast superhero universe is in the making as DC CCO Jim Lee revealed during Spotify's virtual live stream event, Stream On, that the company is planning podcasts about Wonder Woman, Batman, Lois Lane, Catwoman, Riddler and Batgirl.

A podcast superhero universe is in the making as DC CCO Jim Lee revealed during Spotify's virtual live stream event, Stream On, that the company is planning podcasts about Wonder Woman, Batman, Lois Lane, Catwoman, Riddler and Batgirl. Jim Lee said, "This is a long-term partnership between Warner Bros., DC and Spotify. I think the fanbase is going to respond to this in an exciting way and embrace it as something new and novel." The talks had begun when last summer there was news of a podcast deal between Warner Bros. and Spotify. At the time, the companies teased that iconic DC superheroes and supervillains would be the subjects of multiple podcasts for the audio platform. Among many others, the first project is DavidGoyer series ‘Batman Unburied’, which will explore the darker side of Bruce Wayne's psychology. It is expected to debut on Spotify later this year. Batman Unburied, the new @DCComics podcast from David S. Goyer, steps out of the shadows soon 🦇 #SpotifyStreamOn pic.twitter.com/w0XrdyoVE5 — Spotify (@Spotify) February 22, 2021 × The studio is also working on a separate Batman podcast for HBO Max. The comedic series, ‘Batman: The Audio Adventures’, will star Jeffrey Wright. Ryan Reynolds confirms he will not feature in Zack Snyder's 'Justice League'

DC ties up with Spotify for Batman, Wonder Woman podcasts

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Spotify raises premium subscription price plans in many countries

Spotify offers 300,000 audiobook titles for purchase

Meghan Markle tries to trademark centuries-old word 'archetypes' for upcoming podcast

DC ties up with Spotify for Batman, Wonder Woman podcasts