Some users compared Spotify Wrapped unfavorably to Apple Music’s replay feature, which shows users their top albums and genres, a feature Spotify did not include this year.
Cooper’s podcast has ranked as the second-biggest on Spotify since 2021, only behind “The Joe Rogan Experience.”
The stock is on pace for its second-best day on Wall Street ever.
The price hikes make Spotify’s subscription service more expensive than rival Apple Music.
The price hikes will help cover the cost of audiobooks, a new service offered by the company, Bloomberg reported.
Spotify shares were up more than 6.8% in pre-market trading Monday morning after news broke that it would lay off roughly 1,500 of its workforce in an effort for the audio streaming service to cut costs amid slowing growth.
The platform said it would use a new feature from OpenAI that can generate “human-like audio.”
Shares of the Swedish music streaming giant tanked 11% Tuesday after reporting earnings, set for their worst day in nine months.
Popular music streaming platform Spotify has confirmed that they will be raising their prices from $11.99 to $12.99 a month for Premium users.
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.