Spotify's Growth Surges with New Premium Tier and Profit Forecast
Spotify CEO Daniel Ek hinted at the long-awaited launch of a 'super premium' tier during the company's Q3 earnings call, which will offer better sound quality and additional features aimed at superfans. Despite previous delays due to licensing issues, the new tier is expected to cost around $17-$18 per month. Spotify is also expanding its video offerings and leveraging AI to enhance user engagement. The company's shares rose over 10% after reporting higher-than-expected subscriber growth and positive financial forecasts for Q4.