Imagine yourself being a music fan, stir in some countries! Spotify is further increasing its subscription fees by increasing its subscription fees by $1-2 in key markets including the UK, AU, and eventually even Pakistan. Another 6.2% increase before shares are up 49.3% in a year means the company is poised for long-term stability.
However, the question is how do the costs increase? According to some research, an audiobook may also be helpful. Spotify is raising the base price to such an extent that a premium subscriber can download up to 15 hours of audiobooks a month, and it has been making losses since it invested in these markets.
Despite all this, book lovers are also not left behind, who do not like audio. Spotify is adding a basic pop-up called Spotify Playlist that charges the same price for Personal Premium ($11) but doesn’t include audiobooks. We also don’t demand audiobooks that cater to an audience that just needs their music and podcast fix without additional cost.
The move highlights Spotify’s strategy: to be able to attract people who have different musical tastes while still ensuring they are profitable. This change may be painful for some people, however, as the basic tier that doesn’t make readers’ arteries narrow now offers a less expensive option for those who aren’t audiobook-crazier.
