Spotify Mulling to Raise Subscription Prices Again

Music streaming giant Spotify plans to increase its Premium subscription prices by USD1.00 to USD 2.00 in the United Kingdom, Australia, Pakistan, and two other countries by the end of April

This comes as Bloomberg reported the possible increase, with a price increase in the US expected to follow later this year.

The latest price increase of Spotify comes just mere months after the streaming leader raised its monthly Premium fee from USD 9.99 to USD 10.99 in July 2023.

Bloomberg added in its report that the likely culprit for the increase is to offset the cost of the platform’s newest offering – audiobooks, as Spotify continues to aggressively grow in the said space.

Spotify is the second-largest audiobook provider after Audible.

For those who are not interested in audiobooks, Spotify will introduce a new “basic” USD10.99 plan without the new feature, while keeping music and podcasts.

Meanwhile, the current Premium tier with audiobooks will see the USD1.00 to USD2.00 price jump.

Moreover, Spotify also still plans to launch a premium “Supremium” tier with expected features including lossless audio and Dolby Atmos.

Spotify is yet to respond or officially announce the new price changes. (GFB)