Spotify plans to raise the price of its advertisement-free premium streaming plan by $1 a month, sources told the Wall Street Journal on Friday, as the streaming giant looks to remain competitive in a growing streaming marketplace, following similar moves by Netflix and Peacock.
The surge in share price comes amid an industry standoff with Hollywood actors and writers demanding fair contracts that one analyst deemed a major win for Netflix.
Since the streaming giant told users they could no longer share accounts across multiple households, daily sign-ups have increased more than 100%, new data shows.
It’s unclear where the reductions will be made, but executives said there won’t be layoffs.
Netflix is poised to crack down on password sharing outside of households, the online streaming giant has confirmed. Announcing its Q4 results, Netflix said it would roll out a paid option for those who want to share their accounts. “Today’s widespread account sharing (100M+ households) undermines our long-term ability to invest in and improve Netflix, […]
Netflix added a stronger-than-expected 7.7 million subscribers in the last quarter of 2022, rebounding from losses in the first half of the year.
In November, Netflix plans to launch a cheaper ad-supported tier, the first time ads will be coming to the streaming service.