Spotify Is Reportedly Hiking Its Prices for the Second Time in Less Than a Year
Apparently also introducing a new basic plan.
Last July, Spotify raised its Premium subscription from $9.99 USD to $10.99 USD a month. While the $1 USD was seemingly innocuous, it marked the first time the platform had raised the price since instituting the subscription a decade ago. At the same time, it also bumped the prices for its Duo, Family and Student tiers.
Less than a year later, Spotify has increased the price of Premium once again, Bloomberg reported first. In various regions, Spotify is reportedly planning to raise the price by $1 USD to $2 USD per month. The hike is already underway for the UK, Australia and Pakistan and two other unnamed markets.
For its largest territory, the US, Bloomberg reports that price changes are in store for later this year, citing people familiar with the matter.
The increase in prices is reportedly designed to cover the cost of audiobooks, of which users enrolled in the paid programs get 15 hours of listening a month.
As part of the reported plan, Spotify will apparently introduce a new “basic” plan for $9.99 USD, offering music streaming and podcasts but not audiobooks, per Bloomberg.
