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Spotify hikes price of memberships as company reaches profitability
Spotify subscriptions will become a little more expensive next month as the audio streaming service plans to raise its membership prices for a second time in about two years.
Starting in July month, Spotify’s individual plan will jump $1 to $11.99 a month and its Duo plan will increase $2 to $16.99 a month. The family plan will increase $3 to $19.99 while the student plan will remain $5.99 a month.
The increase will help it “continue to invest in and innovate on our product features and bring users the best experience,” Spotify said in a statement Monday,
The increase comes after Spotify in April reported a record profit of $183 million for the first quarter of 2024 after growing its monthly subscribers to 615 million, up from 515 million the year prior. During an earnings call with analysts, CEO Daniel Ek said the company is focusing less on gaining subscribers and concentrating more on revenue growth.
“Next year, our focus may return to top-of-the-funnel user growth but in the near term, monetization remains our top priority,” Ek said.
The Stockholm, Sweden-based company was founded in 2006 but has struggled to turn a profit ever since it went public in 2018. The company posted an operating loss of $81.6 million in the fourth quarter of 2023. The company raised its prices around the same time a year ago in a move it said at the time would help “deliver value to fans and artists.”
During the same earnings call, Spotify’s interim chief financial officer Ben Kung said “our data shows that historical price increases have had minimal impacts on growth.”
Spotify reached profitability after the company laid off hundreds of employees after over-hiring during the pandemic. The company had taken advantage of lower borrowing rates between 2020 and 2021 and financed an expansion, investing heavily in employees, content and marketing, Spotify said in a blog post from December.
But that expansion dwindled in three rounds of job cuts, beginning in January 2023, when the company slashed 6% of jobs, bringing its workforce to 9,200 employees. Just four months later, it cut another 2%, or 200 employees, mostly in its podcasting division. Spotify let go another 1,500 in December 2023.
Spotify also hiked prices this year in Australia, Pakistan and the United Kingdom. Its stock price rose 4.5% in midday trading to $310 a share.
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How to watch the Jacksonville Jaguars vs. Detroit Lions game today: Livestream options, more
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It will be the Jacksonville Jaguars against the Detroit Lions in a game today. The game will be played at Ford Field in Detroit. The Jaguars will be looking to snap a three-game losing streak, coming into the game with a record of just 2-8. The Lions, meanwhile, have just lost once so far this season for an overall resume of 8-1. Their single loss this season was to the Tampa Bay Buccaneers in September.
Keep reading to find out how and when to watch the Jacksonville Jaguars vs. Detroit Lions game today, even if you don’t have cable.
CBS, Paramount+ and CBS Essentials are all subsidiaries of Paramount Global.
How and when to watch the Jacksonville Jaguars vs. Detroit Lions game today
The Jacksonville Jaguars vs. Detroit Lions game will be played on Sunday, November 17, 2024 at 1:00 p.m. ET (10:00 a.m. PT). The NFL football game will air on CBS and stream on Paramount+ and the platforms featured below.
How and when to watch the Jacksonville Jaguars vs. Detroit Lions game without cable
While CBS is available with many basic cable packages, you don’t need to worry if you don’t have access. Whether you have cable or have completely cut the cord, the game will be available with a variety of other options. Just note that the below streaming options will require the use of an internet provider:
Paramount+: Watch CBS-aired NFL games without cable
With Paramount+ you’ll have multiple viewing options to choose from. You can catch NFL games on the Paramount+ Essential tier for just $7.99 each month or you can watch college football with a Paramount+ with Showtime subscription for $12.99 monthly. In addition to live streams of NFL games airing on CBS, you’ll get to watch additional live sporting events including NCAA college football, PGA Tour golf, soccer and more.
Get started with Paramount+ here today.
Amazon Prime Video: Add Paramount+ to your existing subscription
Already have an Amazon Prime Video account? Simply add Paramount+ to your current subscription to watch all the CBS-aired NFL games in addition to Paramount+ originals. The same prices from above apply, depending on which tier you choose. Not sure which is best for you? Don’t worry. Both options come with a free seven-day trial that can help you decide.
Watch the Jaguars-Lions game on Amazon Prime Video.
Fubo: Watch the Jaguars-Lions game for free
If you’re looking for an inexpensive way to watch a variety of football games, Fubo could be the best way to do so. The live TV streamer is currently offering a seven-day free trial and $30 off of your first month’s subscription. Once subscribed, you’ll gain access to all of their live sporting events immediately. And there will be a lot to choose from. Not only does Fubo come with access to NFL games airing on your local CBS channel, it also includes Fox Sunday NFC games, “Sunday Night Football” on NBC, “Monday Night Football” on ABC and ESPN and all of the games that air on the NFL Network. So don’t wait.
Get started with Fubo online now.
As the football season ramps up you may want to stock up on the latest NFL gear and merchandise. Fanatics is a great way to do so. With the latest player t-shirts, jerseys, hoodies and more, there’s plenty of stuff in stock to keep you covered this season. But don’t wait much longer. As each week in the season passes by competition for this limited merchandise will increase. Don’t wait for it to sell out.
Head over to Fanatics now to check out the latest NFL fan gear drop.