You can be on Entrepreneur’s cover!

Spotify Is Reportedly Raising Prices in Several Countries Including the U.S. — Here's When and What New Plans to Expect A new report suggests the music streaming giant is raising prices again.

By Emily Rella

entrepreneur daily

As a slew of streaming and subscription-based services continue to raise prices, Spotify is reportedly implementing new pricing plans for its loyal users.

On Wednesday, Bloomberg reported that the music streaming giant will raise prices this month (between $1 to $2 per month) in five of its international markets including the U.K., Australia, and Pakistan, citing sources familiar with the matter.

In the U.S., meanwhile, customers won't see an increase this month, but users based in the states can expect a price hike by the end of this year.

Related: JetBlue Is Increasing Bag Fees Based on 'Peak' Flight Days

The outlet reported that the higher prices of monthly subscriptions are set to offset the cost of Spotify's audiobook feature, as Spotify has to pay publishers to host the books on its platform.

The sources also allege that Spotify will offer a new, cheaper monthly pricing tier, which will give users access to music and podcasts but not audiobooks for $11 a month — the current cost of a premium plan.

Spotify has historically offered two plans for users — a paid premium, which offers ad-free listening, and a free option, which subjects listeners to advertisements during their programming.

Spotify did not comment publicly on the report.

The streaming giant had a strong Q4 2023, with monthly active users increasing by 28 million quarterly and premium users increasing by 31 million quarterly to a total of 236 million globally.

Spotify bumped prices in the U.S. last July by $1 for premium users.

Related: Report: Sporting Event Ticket Prices Up Over 25%

"So that we can keep innovating, we are changing our Premium prices across a number of markets around the world," the company wrote in a post at the time. "These updates will help us continue to deliver value to fans and artists on our platform."

Spotify was up over 8.15% in a 24-hour period upon the news Wednesday afternoon.

Emily Rella

Entrepreneur Staff

Senior News Writer

Emily Rella is a Senior News Writer at Entrepreneur.com. Previously, she was an editor at Verizon Media. Her coverage spans features, business, lifestyle, tech, entertainment, and lifestyle. She is a 2015 graduate of Boston College and a Ridgefield, CT native. Find her on Twitter at @EmilyKRella.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

This Insurance Agent Started a Side Hustle Inspired By Nostalgia for His Home State — Now It Earns Nearly $40,000 a Month

After moving to New York City, Danny Trejo started a business to stay in touch with his roots — literally.

Business News

Side Hustles Are Soaring as Entrepreneurs Start Businesses Working Part- or Full-Time Elsewhere, According to a New Report

The younger the entrepreneur, the more likely they were to start a business as a side hustle.

Business Process

AI-Generated Images or Stock Photography? Here's How Entrepreneurs Can Navigate the Dynamic Photography Industry

Entrepreneurs eyeing long-term financial gains find stock photography, a $4 billion market in 2023, enticing. Yet, AI's rise prompts a shift from cameras to algorithms.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

Scrabble Makes First Change to Its Board in Over 75 Years

The new roll out is only available in Europe as of now.

Business News

CPI Report: Inflation Rose More Than Expected in March, Driven By Housing and Energy Costs

The average U.S. household is paying $227 more per month for goods compared to one year ago.