Spotify is considering raising subscription prices again, but the increase is expected to be less significant than before. The last price adjustment in Brazil was in July 2023, with up to a R$3 increase in the “Individual” and “Duo” plans, as reported by Bloomberg.
Spotify has the ability to raise prices.
Spotify is set to raise the price of its “Individual” plan by $1 and the “Family” and “Duo” plans by $2 in various markets including the UK, Australia, Pakistan, and two others by the end of April. The price adjustment is expected to reach the United States by the end of 2024, as reported by Bloomberg.
The reason for raising prices would be tied to the extra expenses of providing audiobooks to users, who are able to listen to up to 15 hours of digital books monthly. It is important to note that the platform has expanded and is now the second leading audiobook service, after Audible.
Fortunately, there is a solution available for those looking to avoid the readjustment: simply switch to a new personal plan that provides access to songs and podcasts for $11 per month. However, audiobook access will incur an additional charge under this plan.
Spotify is considering introducing a new subscription plan named “Supremium,” offering lossless music streaming and added features, as per Bloomberg. The company has not yet disclosed any details regarding a potential price hike or whether this will impact Brazil.
