Spotify reportedly set to increase prices & launch new audiobook-free plan

Spotify subscriptions could see another price bump this year in some regions, thanks to the company’s push towards audiobooks.

Bloomberg reports the streaming giant is planning to increase its audio service’s cost by about $1 to $2 a month in five markets. The price increase will come into effect by the end of April in five markets, including the UK, Australia, and Pakistan. Spotify will raise prices in the US, its largest territory, later this year, according to the report.

The prices are reportedly going up to cover the cost audiobooks— a service Spotify introduced late in 2023. Spotify includes 15 hours of audiobook listening a month as part of their paid plan. It only earns revenue from audiobooks when a listener exceeds the 15-hour limit.

For those who don’t listen to audiobooks, the Swedish company will introduce a new basic plan which will offer music and podcasts. The new tier will cost $11, the same as the current monthly subscription price, and you’ll have to pay extra to add audiobooks.

Spotify raised the price of its ad-free tier by $1 last year, moving it from $9.99 to $10.99. Even Apple Music raised its subscription fee last year to $10.99, citing climbing licensing costs as the reason.

Spotify hasn’t made an official announcement regarding the price increase just yet. More info may be revealed in the coming days.