Spotify has unveiled a new $9.99 per month option for its audiobooks subscription and introducing the “Audiobooks Access Tier” for its free users in the U.S.
This option allows free users to access Spotify’s extensive audiobooks collection, comprising over 200,000 titles, while continuing to stream music and podcasts on the ad-supported service. The Audiobooks Access Tier enables users to listen to 15 hours of audiobooks without requiring a full Spotify subscription.
While the cost-saving is minimal compared to the individual plan of Spotify Premium, priced at $10.99 per month, this move allows Spotify to potentially upsell audiobooks to users less interested in its music service. It also provides a competitive edge against Audible, owned by Amazon, by offering a different audiobook consumption model. Rather than paying $14.95 per month for one credit on Audible, users can opt for Spotify’s $9.99 plan with a generous 15-hour listening allowance.
Spotify reports a 45% increase in free users engaging with audiobook content daily since the introduction of audiobooks for Premium subscribers.
Despite a recent price increase in the U.S., Spotify experienced its second-largest quarterly gain in users, surpassing 600 million monthly active users and 236 million paid subscribers. While it claims the No. 2 spot in the audiobook market after Audible, it remains early to assess the impact on subscriber momentum and overall business aspects.
