A recent analysis from Bloomberg reveals that Spotify is on the brink of major adjustments to its subscription offerings and pricing models. The platform plans to implement price hikes in several key markets, alongside unveiling a plan that excludes audiobooks.

The anticipated changes suggest an increase of about $1 monthly for solo subscriptions and a potential $2 monthly rise for family and duo packages in regions including the UK, Australia, Pakistan, and two yet-to-be-named areas. In its main market, the United States, insiders hint at a price revision slated for “later this year.”

The rationale behind the pricing surge is to cover the costs tied to the newly added audiobook feature. Subscribers currently enjoy up to 15 hours of audiobook listening each month, with Spotify compensating publishers for this consumption, despite it being marketed as ‘complimentary’ to users. Revenue from audiobooks for Spotify comes only when users exceed this 15-hour threshold.

Consequently, Spotify plans to introduce a new paid level, excluding audiobooks yet maintaining the existing premium tier’s price point. Users opting for this tier, however, would need to pay extra for audiobook access. In essence, Spotify rolled out audiobooks in its premium package, increased the price, and is now launching a tier minus the audiobooks.

The platform is also preparing to roll out additional subscription options, including a “supremium” tier promising sought-after lossless, high-fidelity music audio, among other unspecified features. This long-rumored tier might soon become available.

Last year, Spotify’s first price rise since introducing its premium service did not deter growth; instead, the company enjoyed a surge in its user base by 113 million, the largest increase to date.

By the end of 2023, Spotify reported 602 million total users, with 236 million being subscribers. Buoyed by the previous year’s successful pricing strategy, Spotify’s management is poised to pursue this approach again.