Spotify is raising the cost of its plans once again.
According to Bloomberg, subscribers will pay $1 to $2 more for their subscriptions, depending on the type of plan they have.
The price hike will impact markets around the world, but some will be hit with it before others. The U.K., Australia, and Pakistan are among the first five markets to see the price adjustment at the of this month.
Bloomberg reports a price hike will impact the U.S. “later this year.” While there’s no word on when the price hike will impact Canadians, it could be pooled in with the U.S. changes.
The increased cost is to reportedly cover the addition of audiobooks. The streaming service started offering some countries access to 15 hours of content per month on premium subscriptions in 2022. Spotify announced its plans to expand audiobook availability to Canada only a day ago.
Users who don’t want to pay the extra cost to listen to audiobooks will have another option to choose from.
Spotify will reportedly offer a new “basic” premium plan for $10.99 that will offer users the same services they have under their premium subscriptions: music and podcasts but no audiobooks.
This is the second price hike from Spotify in less than a year. Back in July, Canadians saw their premium plans go up by $1 from $9.99 to $10.99.
Source: Bloomberg
