The cost of Spotify Premium is anticipated to increase by $1 to $2 in certain markets, such as the UK, Australia, and Pakistan, by the end of April. Previously, the monthly subscription stood at $9.99, but last year saw an adjustment to $10.99, and now another price hike is in the works.
According to reports from Bloomberg cited by The Verge, Spotify users can expect the Premium subscription cost to rise by $1 to $2 in select markets, including the UK, Australia, and Pakistan, by the end of April. This follows a previous increase from $9.99 to $10.99 last July.
However, it's crucial to note that this price adjustment is driven partly by the inclusion of audiobooks on Spotify, necessitating additional costs.
Spotify has positioned itself as the second-largest player in the audiobook industry, following Audible, and is rapidly expanding into new markets.
To address this, Spotify will introduce a new "basic" subscription at the current $10.99 Premium pricing, excluding audiobooks while still offering music and podcasts. Additionally, Spotify intends to launch its long-awaited "Supremium" plan, featuring lossless streaming and other enhancements.
Furthermore, users have spotted a Dolby Atmos logo on the app's Now Playing screen, indicating that spatial audio may be included as one of the special features of Supremium.
Despite these developments, Spotify has not officially announced the impending price hike.
