Is Spotify raising prices? Hiking Streamer Premium Plans


Like a host of streaming and subscription services continue to raise pricesSpotify is reportedly rolling out new pricing plans for its loyal users.

Wednesday, Bloomberg reported that the music streaming giant will raise prices this month ($1 to $2 per month) in five of its international markets, including the UK, Australia and Pakistan, citing sources familiar with the matter.

Meanwhile, in the US, customers won't see an increase this month, but users based in the states can expect a price increase by the end of this year.

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The newspaper reported that the higher monthly subscription prices are set to offset the cost of Spotify's audiobook feature, as Spotify must pay publishers to host books on its platform.

Sources also claim that Spotify will offer a new, cheaper monthly pricing tier that will give users access to music and podcasts, but not audiobooks, for $11 a month — the current cost of a plan premium.

Spotify has historically offered two plans to users — a paid premium, which offers ad-free listening, and a free option, which subjects listeners to ads during their programming.

Spotify did not publicly comment on the report.

The streaming giant had one strong Q4 2023with monthly active users growing by 28 million each quarter and premium users by 31 million each quarter to a total of 236 million globally.

Spotify increased prices in the US last July at $1 for premium users.

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“In order to continue to innovate, we are changing our Premium pricing in a number of markets around the world,” the company wrote in a post to the time. “These updates will help us continue to provide value to fans and artists on our platform.”

Spotify it was upstairs 8.15% in a 24-hour on Wednesday afternoon news.



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