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Spotify Plans to Increase Subscription Prices and Expand Audiobook Offerings

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Spotify,Subscription,Price Hike

Spotify is reportedly planning to raise its subscription prices by $1 to $2 in certain markets and expand its audiobook offerings. The increase is aimed at covering the costs of audiobook expansion. Spotify has become the second-largest player in audiobooks, behind Audible, and is rapidly expanding its efforts in new countries. A new 'basic' plan will also be introduced for those who prefer to get their audiobooks elsewhere.

For many years, Spotify held strong at its monthly subscription of $9.99, but that changed last July when Premium jumped up to $10.99. Now it appears that the leading subscription music service is planning another price hike — and not waiting nearly as long this time. Bloomberg reports that the cost will go up by between $1 and $2 in the UK, Australia, Pakistan, and two other markets by the end of April, with an increase planned for US customers “later this year.

” But there’s one important asterisk here: this all assumes that you’re interested in listening to audiobooks on Spotify. Part of the reason for these subscription increases is to cover their cost, after all. Spotify has already grown to become the second-largest player in audiobooks behind Audible — and it’s quickly expanding that effort into new countries. For anyone happy to get their audiobook fix elsewhere, Spotify will introduce a new “basic” plan at the current $1

 

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