Spotify flags price hikes as it introduces new services: Report

Spotify will raise prices as it invests in new features and targets 1 billion users, the Financial Times reported on Sunday citing the music streaming provider‘s Co-President and chief business officer Alex Norstrom.

The increases would be accompanied by planned new services and features, the FT cited Norstrom as saying in an interview.

Spotify did not immediately respond to a Reuters request for comment.

Earlier in August, the Swedish firm said it would increase the monthly price of its premium individual subscription in some markets from September, as…