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Spotify shares up on report it plans to raise prices

Spotify shares jumped 6% on Wednesday after a report said the company will increase prices for its premium subscription service in the U.S. and other markets.

Spotify shares jumped 6% on Wednesday after a Bloomberg report said the company will increase prices for its premium subscription service in several markets, including the U.S., for the second time in a year. The Swedish music-streaming company will hike prices in the U.S. later this year, Bloomberg reported Wednesday, citing people familiar with the matter. The people familiar said Spotify will raise monthly prices by the end of April by about $1 to $2 in five markets including the United Kingdom, Australia and Pakistan, according to Bloomberg.

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