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SPOTIFY IN THE FAMILY WAY (SUMMER UPDATE)

On the heels of announcing that its revenue had topped $2 billion for the first time, Spotify on Monday unveiled a Premium for Family plan priced at $14.99 a month, matching that of Apple Music’s family plan. The streaming service is touting the plan, which includes the main subscriber plus five others, as “just $5 more than you’re currently paying for Premium.”

The streamery is also now offering a summer special: three months of premium membership for the one-month price of $9.99, with sign-ups at the reduced price offered through 6/30.

Spotify Technology SA reported Monday in a legal filing in Luxembourg that  Spotify’s revenue hit $2.19b in 2015, while its losses totaled $194.2m.

Advertising revenues nearly doubled—to $219m—while subscription revenues were up 78% to $1.96b.

In the royalty, distribution and other costs column, i.e., money paid to labels and artists, the tally hit $1.83b, an 85% spike from 2014. The total represents 84% of Spotify’s total income.

Its user base grew 29m to 89m over the year, with 28m paying the $10/month subscription fee. Spotify handles just over 40% of all music streaming on the Internet.

Spotify says its new deal is a standard price and not a limited-time offer, and will offer all the options that come with a standard individual membership.

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