Spotify plans to raise subscription prices and add a new tariff

Spotify will raise prices for the second time in a year and add a new tariff. As in July last year, prices in 5 regions will increase by $1-2, reports Bloomberg.

So far, it is known that the streaming service plans to raise the subscription price in the UK, Australia, and Pakistan at the end of April. In the US, prices will rise later this year.

The increase in subscription fees will help the company cover the cost of audiobooks. Currently, Spotify offers listeners up to 15 hours of audiobook listening per month, but the company has only received revenue from users who exceeded this limit.

The streaming service will also introduce a new tariff that will cost $11, but will not include audiobooks, only music and podcasts. Recently, the company also introduced an audiobook-only plan for $10 per month, but still with a 15-hour listening limit.

This is reportedly just one of several new plans the company will introduce in the future. A super-premium plan is also planned, which, among other things, will offer higher audio quality.