In the middle of 2023, Spotify made a move we have become so accustomed to in the streaming space – they raised prices. As we cruise through 2024 and wait in anticipation of the next company to further reduce our wallet sizes, we can apparently add Spotify to the shortlist of expected price increasers. There may be some new tiers to choose from too.
According to a report out of Bloomberg, Spotify is about to increase prices in at least 5 markets by the end of April. The US may not be one of those, but the plan is to increase prices here later in the year. For those keeping track, that means two price increase in two years, assuming this report pans out.
In the 5 markets that could see increases (the list includes the UK and Australia), prices may go up $1-$2 per month. We don’t yet know what the increases will be for the US, although I’d imagine they will be similar.
When the increases do arrive, Spotify is expected to introduce new plan tiers. One of the new tiers will remove access to audiobooks, which is a feature that Spotify introduced last year that has been a hit. Up until this point, Spotify has given paid users limited access to audiobooks at no charge, but they’ll now likely have to pay for that access. Today’s report says we’ll get an $11 individual tier without audiobooks, along with a more expensive plan that includes audiobooks.
Additionally, we could get a “supremium” plan with a higher price and high-fidelity audio, as well as other features. We don’t yet know the price of that, unfortunately.
The timing of this report suggests that Spotify could announce these changes at any day. We’ll let you know if they do.