Spotify to Raise Prices in UK, Australia, Pakistan; More Hikes Coming As It Expands Offerings

• Spotify plans to raise prices by $1-$2 per month in markets like the UK, Australia, and Pakistan by end of April • It will also introduce a new basic tier at current premium price, with music and podcasts but no audiobooks • Spotify will raise prices in the US, its largest market, later this year • Price hikes could help push the company toward profitability as it expects strong subscriber growth • Spotify has added podcasts and audiobooks to reduce reliance on the music industry and gain more users