Spotify CEO discusses AI, earnings, and potential price increase in 2023.
Spotify CEO Daniel Ek has hinted that the company may raise prices in 2023, but only when the timing is right and negotiations with label partners are complete. The music streaming giant raised prices in 46 different markets last year, which continued to outperform despite the increase. Spotify reported 515 million monthly active users in Q1, beating expectations, and reiterated its guidance of gross margins between 30% to 35% over the long term amid plans to further scale its podcasting and ads business.