Music streaming service Spotify plans to raise prices, less than a year after last increase
Music streaming service Spotify just implemented a price increase in July 2023, but has now revealed that it plans to implement further price increases in some regions soon.
Spotify (SPOT) to Raise Prices, Introduce New Plans for Books and Music - Bloomberg
Spotify's price is reportedly going up again - The Verge
https://www.theverge.com/2024/4/3/24119884/spotify-2024-price-increase-rumor-audiobooks-supremium
Spotify's second price hike in 9 months will target audiobook listeners | Ars Technica
https://arstechnica.com/gadgets/2024/04/spotify-subs-will-lose-audiobook-perks-unless-they-pay-1-2-extra/
Spotify offers a free plan called 'Spotify Free' and a plan called 'Premium' that allows you to use various features for a fee. At the time of writing, the standard Premium plan is available for $10.99 per month (980 yen in Japan), but this was just increased in July 2023. Before the price increase in July 2023, the standard Premium plan was $9.99 (the price increase was not implemented at this time in Japan).
Spotify announces price increase for premium plan - GIGAZINE
According to a Bloomberg report, the price of the standard Premium plan will increase by $1-2 by the end of April 2024 in the UK, Australia, Pakistan and two other markets. The price increase will be implemented in the US in the second half of 2024.
However, the increased price of the Premium Standard plan seems to be aimed at people who are interested in listening to audiobooks. Spotify already holds the second largest market share in the audiobook industry after Audible, and is expanding its audiobook service to countries and regions such as Canada, Ireland, and New Zealand.
Bloomberg also reported that Spotify is preparing a new Premium plan called 'Basic' that will only include music and podcasts for $10.99 per month for people who don't need the audiobook feature. However, even if you subscribe to Spotify's basic plan, you will still be able to purchase audiobooks separately.
Spotify has long been reported to be planning to launch 'Supremium' as a premium plan that supports lossless streaming and Hi-Fi .
Spotify's lossless audio streaming may be offered in the more expensive paid plan 'Spotify Supremium' - GIGAZINE
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