Spotify hikes prices again — but subscriber numbers and revenue keep climbing

Streaming giant increases subscription costs in key markets while continuing to expand its global user base and revenues

Spotify reported a higher-than-expected 12% rise in monthly active users. File picture

Spotify has announced a jump in the number of subscribers despite hiking prices in some of its biggest markets worldwide.

The music streaming group reported a higher-than-expected 12% rise in monthly active users, to 761 million in the first three months of the year, and a 9% rise in paying subscribers to 293 million.