Spotify will increase subscription prices by $1 to $2 in some markets initially
Spotify is reportedly planning to raise subscription prices by $1 to $2 in several markets, including the UK and Australia, by April end, with a similar hike planned for US customers later in the year.
The increase is partly to cover its costly expansion of audiobooks. It has already become the second-largest player in the audiobook market behind Amazon’s Audible.
To accommodate users who don’t want audiobooks, the music streamer will introduce a new basic plan at the current premium rate of $10.99.
Additionally, Spotify is expected to roll out a “Supremium” plan offering lossless streaming and other features.