Listening to Spotify will get more expensive for premium users when the company implements price increases in five non-U.S. markets in April, according to Bloomberg. They will hit the U.S. later.
Listening to Spotify could get more expensive for some users this year. The cost of Spotify Premium subscriptions in the U.S. will rise later in the year, Bloomberg reported Wednesday, citing people familiar with the matter. Premium users in the U.K., Australia, Pakistan and two other markets will see the price increase go into effect, according to the outlet. It will reportedly roll out by the end of the month in those markets.
The audio streaming service’s terms of service note that it "may from time to time make changes to Paid Subscriptions" and "will communicate any price changes to you in advance." Spotify's prices for its premium plans last increased in July. At the time, the audio streaming company said the move would "help us continue to deliver value to fans and artists on our platforms" and "keep innovating.
The company started delving into audiobooks in 2022. Last fall, premium accounts became eligible to listen to up to 15 hours of audiobooks each month at no additional cost. The outlet reported that Spotify is seeking to help fund its audiobook offerings with the implementation of the price increases. Spotify declined FOX Business' request for comment.
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