Spotify raises US prices of its premium plans in margin push

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Spotify raised prices for its premium plans in the United States on Monday, the latest step by the Swedish music-streaming service in its push to increase margins.

The company raised prices of its individual plan to $11.99 from $10.99 per month, duo plan to $16.99 from $14.99 and its family plan to $19.99 from $16.99 in its largest market by revenue.
Spotify has been trying to boost its margins in recent months by lowering marketing spending and through layoffs, after relying on promotions and hefty investments to drive user growth.

Spotify has been trying to boost its margins in recent months by lowering marketing spending and through layoffs, after relying on promotions and hefty investments to drive user growth. 

 Spotify has been implementing various strategies to improve its margins, including reducing marketing spending,implementing layoffs, and shifting away from heavy investments and promotions for user growth. These price increases are part of the company's ongoing efforts to boost profitability in an uncertain economy