Spotify has been one of the trendiest music listening applications that always brings some changes and improvements. Spotify also offers a lot of useful and interesting features to its subscribers. With that, it’s just been reported that Spotify Technologies has been planning to introduce new plans this year with some price increments for its paid subscribers.
As per the reports shared by Bloomberg, Spotify may be planning to introduce new plans for this year with a general tier that includes music and various podcasts, excluding audiobooks with some significant price increase price increments for the subscribers. With that, for the matter of price increment, the company is planning to raise the subscription prices by about $1 to $2/month.
Bloomberg further reported that this latest change will occur in five regions, including the US, Australia, and Pakistan, at the end of this month. Following the new pricing details, the company will get the advantage of seamlessly covering the costs of its audiobook services that are running at present. In addition, audiobooks provide about 15 hours of listening time/per month for subscribers.
Moreover, Spotify significantly increased the prices by $2 for its premium subscribers in the US and various other regions last year. On the flip side, listeners have to pay to listen to audiobooks with the implementation of the newest tier. However, Spotify is finding several innovative methods to significantly broaden its capabilities and offer interactive things other than music, as this price hike is happening for the first time.
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