Spotify ready to introduce a more expensive subscription plan

According to a source familiar with the matter and close to Reuters, Spotify plans to release a more expensive subscription plan very soon. To be fair, we've been hearing about a pricier tier for some time now, but the new report suggests Spotify is close to making it a reality.

Of course, the new subscription plan will include HiFi audio streaming and will also offer more advanced tools for creating and managing playlists and entire song libraries. The plan is said to cost around $5 more on average, depending on the region. That makes about a 40% increase in price for most regions.

Spotify recently bumped up its subscription plan in the US by $1 in order to increase its profit margin. But that's for the single plan. The Duo plan asks $2 more, while the family package is up $3.

Source