This is its second U.S. increase in less than two years as the company leans on higher fees to protect profits.

The change applies to current users, with the new price kicking in on individual billing dates next month. 

Spotify said affected subscribers will be notified by email before the adjustment takes effect. New users are already being shown the updated price on the company’s website.

Investors welcomed this development as shares of the Swedish streaming group climbed almost 3% in premarket trading on Thursday, trusting that the company can push through higher prices without losing too many users.

This latest increase follows Spotify’s decision in June 2024 to lift the U.S. Premium price from $9.99 to $11.99, its first rise in more than a decade. The jump to $12.99 means American subscribers will have seen prices climb by 30% in roughly 18 months.

In a message sent to customers, Spotify explained the decision. “Occasional updates to pricing across our markets reflect the value that Spotify delivers, enabling us to continue offering the best possible experience and benefit artists.”

The company also told subscribers: “Thank you for being a valued Premium subscriber. Starting on your billing date in February, your subscription price will change from $11.99/month to $12.99/month.”

Spotify stressed that premium users who are unhappy with the new price can cancel at any time or switch to other plans available through their account settings, noting that the service stays optional.

The increase is not limited to the United States. Similar increases have been rolled out across parts of Europe, South Asia and Latin America over the past two years. This shows a similar global strategy rather than a one-off response to local conditions.

After years of losses, Spotify reported its first quarterly operating profit in late 2025. That achievement eased issues about the sustainability of its business model, but it also raised expectations. To keep that momentum, the company needs more revenue per user.

Music licensing is expensive, and costs continually increase as labels renegotiate deals. At the same time, Spotify is spending heavily to expand beyond music. 

Audiobooks are being rolled out more widely, and the platform is investing in new discovery tools and recommendation features designed to keep users engaged for longer.

Subscription fees are the most direct lever Spotify can pull. Advertising helps, but Premium subscriptions still account for the bulk of revenue. From that perspective, the latest increase looks less like a gamble and more like a necessity.

Spotify is not acting alone as Apple Music, YouTube Music and Amazon Music have all increased prices in recent years, softening the risk that users will defect purely on cost. 

For many listeners, the difference between services now comes down to habit, playlists and perceived value rather than price alone.

Still, there is little room for complacency. Consumers are facing higher prices across many digital services, and tolerance for repeated increases is not unlimited. We have seen subscription fatigue set in elsewhere, and music streaming may not be immune.

The post Spotify to Increase Premium Subscription Price to $12.99 Starting February appeared first on Tech | Business | Economy.

With nearly 850 participants from 84 countries—including 469 respondents from 29 African nations—the survey highlights key trends shaping study destination choices, the increasing importance of affordability, and Nigeria’s growing appeal as an emerging study destination.

Notably, 56% of respondents were from African countries, reflecting the region’s strong engagement with international education opportunities.

Nigeria’s Growing Appeal as a Study Destination

Nigeria has emerged as a key player in the study abroad landscape, with a significant number of students now considering the country as a viable and attractive option for higher education.

In the latest survey, Nigeria was highlighted as one of the most popular emerging study destinations, ranking highly among students seeking more affordable alternatives to traditional study hubs like the United States, Canada, and the United Kingdom.

This shift is reflective of Nigeria’s increasing investment in post-secondary education, along with initiatives like the Tertiary Education Trust Fund, which has improved access to resources for students.

Furthermore, the growing recognition of Nigeria’s academic offerings, particularly in fields such as engineering, health sciences, and business, is contributing to its rise as a viable destination for international students.

Affordability is Central to Students’ Decisions

As living costs continue to rise globally, affordability has become a defining factor for students when selecting a study destination.

77% of students surveyed listed tuition fees as the most important consideration, well above concerns about graduate employability (57%).

This growing focus on affordability is prompting students to explore a wider range of destinations, and Nigeria’s appeal as an affordable study option is strengthening.

Despite the financial challenges, only 9% of students plan to defer their studies. Instead, many are looking for more budget-friendly options, with 26% of students considering alternative study destinations due to financial constraints.

In fact, Nigeria’s increasing recognition as an affordable (education) study destination is evident, with students expressing interest in the country for its lower tuition fees and growing opportunities for post-graduation work and research.

Emerging Study Destinations: A Shift in Preferences

While countries like the US, UK, Canada, and Australia remain top choices for students, there is a noticeable shift towards emerging study destinations. 35% of students are now considering destinations beyond the traditional study hubs, with Nigeria, alongside other countries like Finland and Denmark, making significant strides.

As students reassess their financial plans, many are turning to countries with more affordable tuition and lower living costs.

In a survey response, one student mentioned:

“Spain, Lithuania, and other European countries with lower tuition fees are now on my radar.”

This growing interest in countries like Nigeria shows that students are increasingly prioritizing value for money without compromising on the quality of their education.

Student Aspirations and Career Goals

In addition to affordability, the Spring 2025 survey sheds light on the career aspirations of international students.

Engineering continues to be a popular field, with software and civil engineering topping the list. The demand for health sciences, particularly nursing, is also on the rise.

This aligns with Nigeria’s increasing focus on developing specialized programs that prepare students for the demands of a globalized workforce.

Students are also looking for programs that will enhance their career prospects. The survey revealed that 57% of students prioritize high graduate employment rates when choosing a program.

For Nigerian students, this means greater opportunities to not only study abroad but also gain valuable work experience and contribute to the country’s growing education sector.

The Future of Nigerian Students in the Global Education Landscape

Nigeria’s prominence as an emerging study destination highlights the growing diversity of global education.

As more students from Nigeria and beyond look to study abroad, the shift toward more affordable and specialized academic programs will shape future trends.

With an eye on quality education and career opportunities, Nigerian students are well-positioned to thrive in this new landscape.

ApplyBoard’s Spring 2025 Student Pulse Survey highlights the evolving landscape of international education, with affordability and career-focused programs at the forefront of students’ decisions.

As Nigeria continues to emerge as a key study destination, students from Nigeria and across the world are exploring new and innovative educational opportunities that align with their aspirations and financial realities.

The post Nigeria Emerges Affordable Education Destination, Attracts Foreign Students – Report appeared first on Tech | Business | Economy.

Reports of the disruption flooded in from across the United States, the United Kingdom, and other parts of the world, making it one of the highest service failures the platform has faced in recent times.

According to data from Downdetector, an outage-monitoring service that aggregates reports from multiple sources, over 21,000 users in the U.S. and more than 10,800 in the U.K. reported issues with X. 

The disruption, which reportedly began around 9:30 WAT (8:30 AM CET), caused users to encounter error messages such as “Something went wrong, try reloading.”

While some users experienced a complete inability to access the platform, others reported that the site was slow, with posts failing to load or refresh. The outage lasted approximately 45 minutes in some regions before gradual restoration, though intermittent issues continued for others.

With no immediate response from X, users turned to alternative social media platforms such as Facebook and Reddit to confirm the outage and discuss its impact. Many were upset, with memes and complaints quickly spreading across digital spaces.

One user wrote, “Can’t believe I had to come to Facebook just to check if X is down. What is happening?” Another joked, “Elon must be rebooting the servers manually.”

The reaction showed X’s role as a primary source of real-time conversations, with many users relying on it for news updates, business engagements, and entertainment.

As of the time of this report, X has not issued an official statement explaining the cause of the outage or providing a timeline for full restoration. The company also did not respond to media inquiries regarding the disruption.

While outages of this scale are uncommon, they can have huge impacts, particularly for businesses and content creators who rely on the platform for engagement. 

X has not experienced a major disruption of this magnitude in recent times and users are advised to monitor official channels for further updates.

The post X Suffers Outage, Thousands Affected in the U.S., U.K., and Beyond appeared first on Tech | Business | Economy.

This initiative includes the development of a massive new manufacturing facility in Texas and the creation of 20,000 new jobs in research and development across the country.

The tech giant says it will establish a 250,000-square-foot factory in Houston, Texas, which will focus on assembling servers for its data centres. The facility, expected to be operational by 2026, will be developed in partnership with Hon Hai Precision Industry, also known as Foxconn. 

These servers are essential for supporting Apple Intelligence, a suite of features designed to enhance user experience through advanced processing capabilities.

Apple’s current investment builds upon previous commitments to domestic manufacturing. During the Trump administration, the company announced a $350 billion investment over five years. This new pledge includes various expenditures, such as supply chain purchases, Apple TV+ productions, and infrastructure expansion.

In addition to the Texas facility, Apple plans to double its Advanced Manufacturing Fund, increasing it from $5 billion to $10 billion. A good portion of this fund will be allocated to the production of advanced silicon at Taiwan Semiconductor Manufacturing Co.’s (TSMC) facility in Arizona. 

While Apple did not disclose the exact terms of its arrangement with TSMC, the move aligns with the company’s goal to bolster domestic semiconductor production.

Apple has long maintained a strong presence in the U.S. supply chain, sourcing key components from American manufacturers such as Broadcom, SkyWorks Solutions, and Qorvo. 

The company also recently began mass production of its in-house designed chips at TSMC’s Arizona plant, as it pushes toward greater self-reliance in chip manufacturing.

Again, Apple is also investing in workforce development. The company announced the establishment of a manufacturing academy in Michigan, aimed at providing small and medium-sized enterprises with essential skills in project management and manufacturing optimisation. The academy will offer free courses facilitated by Apple engineers and university experts.

Apple’s CEO Tim Cook noted the company’s allegiance to American innovation, “We are bullish on the future of American innovation, and we’re proud to build on our long-standing U.S. investments with this $500 billion commitment to our country’s future.”

The investment comes as the focus on U.S. technology manufacturing, particularly in the semiconductor sector increases. Policies such as the CHIPS Act have sought to encourage domestic production, and Apple’s latest initiatives align with these broader industrial strategies. 

The post Apple Commits $500 Billion to U.S., Building Texas Factory, Adding 20,000 Jobs appeared first on Tech | Business | Economy.

Following reports of a possible TikTok ban in the United States, American users are flocking to RedNote, a Chinese social media app.

With over 700,000 new users joining the platform, many Americans are turning to RedNote, known locally as Xiaohongshu, as an alternative to the popular short-video app.

Initially designed as a lifestyle platform focused on beauty, travel, and food, RedNote has now become a cultural exchange hub. Users from the U.S. and China are engaging in lively discussions about favourite dishes, tourist spots, and daily life experiences. 

Posts welcoming “TikTok refugees” have flooded the platform, creating a buzz among its predominantly young and female Chinese audience.

Jacob Hui, a translator from Hangzhou, posted that he was pleased about interacting with American users on the platform. “It’s rare to have such direct conversations. I even got to ask about video games in the U.S.,” he said, highlighting the growing dialogue between users from the two nations.

Despite the warm reception from many, not everyone is thrilled. Some Chinese users and nationalist bloggers have spoken about the platform being influenced by foreign perspectives. 

A user, Ren Yi cautioned against the subtle introduction of American ideologies through RedNote.

The surge in foreign users from TikTok has also exposed challenges for the RedNote platform. While RedNote’s single-version app allows global access, it has struggled to moderate English-language content effectively. 

Recent reports reveal that the app is working on developing translation tools and expanding its moderation capabilities.

The sudden popularity of RedNote reiterated its prospects for global outreach. Unlike other Chinese platforms like WeChat or Douyin, which maintain separate domestic and international versions, RedNote’s unified interface offers a unique opportunity to bridge cultures.

However, there are underlying issues. Some new users have tested the limits of China’s online censorship, attempting to discuss sensitive topics. Observers believe this trend, while currently working, may not last. 

Liu Xingliang, an industry analyst, noted, “This seems to be a short-term emotional response. Many are exploring the platform out of curiosity.”

RedNote’s history is rooted in its 2013 origins as a shopping guide for Chinese tourists. Over the years, it has evolved into a lifestyle platform with over 300 million active users and backing from investors like Alibaba and Tencent. 

With the app working through this unexpected international spotlight, its ability to manage diverse content and maintain user engagement will determine its success in the long run.

For now, RedNote is a digital meeting point for two cultures, facilitating dialogue.

The post TikTok Ban: China Reacts to Possible Foreign Influence as American Users Flock to RedNote appeared first on Tech | Business | Economy.

Singapore was the first on the list, with a solid infrastructure and good works focused on the adoption of these technologies.

The study ranked nations using a composite index that incorporated key metrics, including blockchain patents, jobs in blockchain technology, and the number of crypto exchanges. To ensure fair comparisons, the data was adjusted relative to population size.

1. Singapore

With a composite score of 85.4, Singapore leads the global rankings. Known for its progressive approach to technology, the country has over 2,400 blockchain-related jobs and 81 crypto exchanges. Its extensive patent activity further makes it a hub for innovation and adoption.

2. Hong Kong

Scoring 82.7, Hong Kong combines financial expertise with blockchain integration. The city hosts 1,100 jobs in blockchain technology and 52 crypto exchanges, showing its huge role in the crypto economy.

3. Estonia

Even though Estonia is one of the smallest countries on the list, it ranks third with a score of 81.5. Known for its digital-first policies, it has 95 blockchain patents, 52 exchanges, and 149 blockchain-related jobs, ascertaining that size is no barrier to innovation.

4. Switzerland

A global innovator in decentralised finance, Switzerland scores 80.2. The country supports 440 blockchain jobs and operates 32 crypto exchanges, speaking loads about its status as a blockchain-friendly nation.

5. United States

With the highest numbers across most metrics, the United States ranks fifth, scoring 79.8. It leads innovation with 32,000 blockchain patents, employs over 17,000 people in blockchain-related roles, and hosts 166 crypto exchanges.

6. Canada

Canada takes sixth place with a score of 77.3. Its 1,200 blockchain patents and an equal number of jobs in the sector highlight its growing focus on blockchain technology. The country also operates 32 crypto exchanges, offering a stable market for cryptocurrencies.

7. Australia

Scoring 76.8, Australia shows strong progress with 1,400 blockchain patents and 573 jobs in the field. Its 31 crypto exchanges further emphasise the country’s commitment to expanding its blockchain ecosystem.

8. South Korea

With a score of 75.4, South Korea stands out for its commendable 18,000 blockchain patents, the second-highest on the list. However, its smaller workforce of 121 blockchain jobs and 29 crypto exchanges places it in the eighth position.

9. United Kingdom

The UK secures the ninth spot with a score of 74.9. It has a strong presence in the crypto market, operating 95 exchanges and offering 2,673 blockchain-related jobs. The country’s 2,800 blockchain patents also reiterates its focus on innovation.

10. United Arab Emirates (UAE)

The UAE rounds off the list with a score of 73.2. It has steadily grown its blockchain ecosystem, having 340 patents, 414 blockchain jobs, and nine crypto exchanges, focusing on strategic adoption rather than scale.

A spokesperson from ApeX shared their perspective on the findings: “Blockchain technology is no longer just a niche innovation; it has become a cornerstone for digital transformation across industries. The countries leading in this space are not just embracing the technology but are actively shaping its future. What stands out is how diverse approaches—whether through regulatory clarity, investment in talent, or fostering innovation—are paving the way for global adoption. This reflects a broader shift toward decentralization and transparency, which are becoming essential in today’s interconnected economy.”

To access the full research, please follow this link.

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The walkout is driven by demands for better pay and improved working conditions, as union representatives accuse the retailer of failing to engage in contract negotiations.

The International Brotherhood of Teamsters announced that workers from seven Amazon facilities across major cities like New York, Atlanta, and San Francisco would join the strike. 

These facilities are a small fraction of Amazon’s workforce, but their participation during the peak holiday shopping period could disrupt operations.

Union officials claim that Amazon has ignored their requests to discuss contracts, even after a deadline set for Sunday. According to Teamsters President Sean O’Brien, the strike is a response to what he described as the company’s disregard for its workers’ contributions.

eCommerce: Can Tech Keep Up With Holiday Shopping Pressure?

Amazon has long resisted unionisation, maintaining that it prefers a direct relationship with employees. The company denies the Teamsters’ claims of representation, accusing the union of misleading the public and using coercive tactics to attract members.

In a statement, an Amazon spokesperson refuted the union’s allegations and emphasised the company’s competitive wages and investments in employee welfare. 

Amazon recently announced a $2.1 billion initiative to raise base pay for its U.S. employees, noting the move as a focus on supporting its workforce.

Nonetheless, labour disputes continue to affect the e-commerce giant. Workers in Staten Island, who voted to unionise in 2022, are still without a contract as Amazon disputes the legitimacy of their union. 

Legal issues over union activities have also surfaced in Alabama, where a third election has been ordered following allegations of misconduct.

Reports reveal that Amazon’s focus on productivity has led to unsafe working conditions. A recent Senate investigation claimed the company’s operational demands were linked to high injury rates among warehouse staff. Amazon has dismissed the findings, labelling them as outdated and misrepresented.

The strike follows other worker actions against Amazon, including the global “Make Amazon Pay” campaign last month. 

The post Amazon Workers to Strike During Peak Holiday Season Over Pay and Alleged Neglect appeared first on Tech | Business | Economy.

According to the 2024 Global Midyear Advertising Forecast, the increase is attributed to higher digital advertising spend, recovery in key markets like China, and the growing influence of automation and other technologies. 

The growth forecast for 2024 has been revised upwards to 7.8%, a jump from the previous estimate of 5.3%.

The United States and China are the main drivers of the industry’s expansion, together contributing over half of the global advertising revenue. In 2024, the U.S. market is forecast to generate $365.9 billion, a 5.8% rise from the previous year. 

Meanwhile, China’s revenue is projected to grow to $199.4 billion, surpassing earlier expectations.

These two countries alone will account for an incremental $44.5 billion in 2024, dwarfing the combined growth of $27.5 billion from all other markets. Excluding the contributions of the U.S. and China, global advertising growth for 2024 is estimated at 6.9%.

Digital Advertising

Digital advertising continues to account for an estimated 73% of total revenue by the end of 2024. This trend is expected to continue, with digital platforms —including streaming services and online publications — projected to capture 82% of the market by 2025. 

The segment is forecast to grow 12.4% in 2024 and 10% in 2025, far outpacing traditional formats such as print and radio.

While television, including streaming services, is projected to grow at 2.4% on a compound basis through 2029, print advertising is set to decline further, with global revenues expected to drop by 4.5% in 2024 and 3% in 2025. Audio advertising is predicted to remain stagnant over the same period.

Regional Highlights

China is expected to see a 13.5% increase in advertising revenue in 2024, reaching $204.5 billion. This growth is partly attributed to initiatives aimed at boosting consumer confidence and spending. 

Meanwhile, the UK, Europe’s largest advertising market, is forecast to grow by 8.3% in 2024, contributing $53.2 billion to global revenues.

Industry Implications

Major digital platforms such as Google, Meta, ByteDance, Amazon, and Alibaba will benefit the most from this growth, collectively capturing more than half of the global advertising revenue. 

These platforms have become integral to both small and large advertisers, offering sophisticated tools that target a wide range of marketing needs.

In contrast, traditional advertising agencies face challenges in capturing a good share of this expanding market, as clients increasingly favour digital platforms. 

Even with economic uncertainties in developed markets like the U.S. and UK, the global advertising sector shows no signs of slowing, underpinned by innovation and changing consumer behaviours.

Nigerian Perspective

In Nigeria, advertising expenditure has mirrored global trends, with companies ramping up their budgets to enhance brand visibility and customer engagement. 

Despite a 35.9% year-on-year growth between 2021 and 2022, spending dipped slightly in 2023 as businesses adopted a more cautious approach due to economic limitations.

The post Global Advertising Revenue to Reach $989.8 Billion in 2024 | Surpass $1.1 Trillion in 2025 appeared first on Tech | Business | Economy.