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Fish swim, birds fly, and streaming services increase their prices. That’s (mostly) the way things are. After maintaining the same Premium pricing for a long time, it seems to have caught on in some countries.
according to BloombergSpotify Premium will be priced at about $1 more for the single plan and about $2 more for the family and duo plans by the end of April in a few markets, including the UK, Australia, and Pakistan. The report indicates that the United States is preparing for a similar increase later this year.
The higher fees are expected to offset the costs of audiobook offerings. , Premium users were able to listen to 15 hours of audiobooks per month at no additional cost. The company is said to have seen strong levels of audiobook consumption so far.
If users exceed the 15-hour limit, they can pay for a 10-hour credit. That’s where Spotify makes more money from its premium audiobook library. The company also sells audiobooks on its online store.
Spotify has been seeking profitability since going public in 2018, and to help it get there, it’s reportedly setting up several additional subscription tiers. One of these (a more expensive option) will reportedly be offered, a feature the company has been offering for a long time.
It may also offer a basic tier that includes ad-free music and podcasts, leaving out audiobooks. This plan is expected to cost $11 per month, which is the same as Spotify currently charges for Premium. As such, the Spotify app introduced in the US last month makes a lot more sense.
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