Spotify to raise prices in for premium subscription service, Bloomberg reports

Spotify plans to increase prices for its premium subscription service in several markets, including the U.S., for the second time in a year, Bloomberg’s Lucas Shaw and Ashley Carman report. According to people familiar with the matter, Spotify will raise prices by $1-$2 a month in five markets by the end of April, including the UK, Australia and Pakistan, while prices will be raised in the U.S. later this year. The higher prices will help cover the cost of audiobooks, Bloomberg says. Spotify will also introduce a new basic tier that will offer music and podcasts for $11 per month, the people add, and the company has been working on a “supremium” plan, which would charge customers a higher price for access to high-fidelity audio.