Spotify appears again increase price. This time, the subscription fee increase is to pay for something subscribers may not want in the first place.
Spotify charges will increase by $1 to $2 per month in five markets including the UK, Australia and Pakistan starting from the end of April, according to a report from Spotify Bloomberg Wednesday. U.S. subscribers will see a price increase later this year.
As for the reason for the price increase, it is reported that Audiobooks. Spotify added audiobooks to its service on a trial basis last year. The price increase is how much the streaming service pays to give subscribers access to the books. Currently, Spotify does make money from subscribers who exceed the 15-hour limit for audiobooks.
Now, a basic level is reportedly in the works for those who only use Spotify to listen to music and don’t care about audiobooks. This new tier will maintain the current subscription price of $11 per month, and the option to add audiobooks will be extra.
Spotify declined to comment on whether to raise prices.
music streaming services increase price That’s a $1 increase last year, which is expected to bring the company more than $1 billion in revenue. The majority of the funds are used to pay licensing fees for all music made available through the service.
Spotify wasn’t the only music service to raise prices last year. Apple, Amazon and YouTube Music Premium Nearly every other streaming service, including Netflix, Disney+ and Max, has increased its monthly subscription fees. There’s also a move to bring an ad-supported tier to streaming.A study finds that U.S. households spend Streaming service $61 per monthan increase of 27% over last year.