Spotify plans raise prices on some of their plans another $1-2 from what they are worth now. This was revealed Bloombergwhich cites sources familiar with the matter as saying the hike will affect countries such as the UK, Australia and Pakistan starting in April this year.
End of year Spotify It also plans to raise the price of its plans in the US.. So a custom premium plan for the music service would cost $11.99 or $12.99 per month; duo plan $15.99 or $16.99; family plan – $17.99 or $18.99; and the student plan is $6.99 or $7.99 per month. In any case, it is unclear whether the increase will affect all subscription options.
According to the above-mentioned media, the purpose of raising prices is try to cover the cost of audiobooks, a service the company included in the platform late last year. Spotify, in particular, is offering current premium subscribers up to 15 hours of free audiobook listening. Despite this, it pays a commission to book publishers, which means that the company only receives income from those users who exceed the limit and pay to continue listening to audiobooks.
Spotify price hike will lead to new premium plan
Yes, this price increase will be accompanied by new premium plan in which the user will be able to listen to music and podcasts unlimitedly and without advertising, but you won’t get 15 hours of free audiobook playback. This plan will cost $11 per month, the current cost of an individual subscription.
It’s unclear whether Spotify will increase in size their prices in regions such as Spain and Mexico to make audiobooks a profitable way for the company, but the change will likely apply to those markets as well. First of all, if we take into account that the latest price increase in July 2023 also affected these countries. Currently, the individual premium plan in Spain costs 10.99 euros per month, and in Mexico it costs 129 pesos.
If the increase goes into effect, the individual plan will cost EUR 11.99 or EUR 12.99 per month, and PHP 130 or PHP 131. this is ChThis will make Apple Music cheaper compared to the Swedish music streaming service, as the platform’s individual plan currently costs €10.99 per month, while a family plan is available for €16.99 per month.
Source: Hiper Textual
I am Garth Carter and I work at Gadget Onus. I have specialized in writing for the Hot News section, focusing on topics that are trending and highly relevant to readers. My passion is to present news stories accurately, in an engaging manner that captures the attention of my audience.
