Another Spotify price hike appears to be on the horizon, continuing the upward trend for the leading music streaming service’s subscription costs. According to Bloomberg, Spotify is planning to raise its prices by $1 to $2 in several markets, including the UK, Australia, Pakistan, and two other unnamed countries, with the increases set to take effect by the end of April.

This impending price adjustment comes less than a year after Spotify’s last rate hike in July 2023, when the Premium subscription plan jumped from its longstanding $9.99 monthly fee to $10.99. And it seems that American subscribers won’t be spared from the latest round of increases either, with Bloomberg‘s sources indicating that a price bump is planned for the US market later this year.

However, there’s a caveat to these price increases: they primarily target users interested in accessing Spotify’s growing audiobook catalog. The company has rapidly expanded its presence in the audiobook market, rising to become the second-largest player behind Amazon’s Audible. As such, the upcoming price increases are intended to help offset the costs associated with offering audiobooks alongside Spotify’s vast music and podcast libraries.

For users who prefer to obtain their audiobook fix from other sources, Spotify plans to introduce a new “basic” subscription tier that will retain the current $10.99 monthly rate. This basic plan will continue to bundle music and podcasts but exclude audiobooks from the package.

It’s worth noting that Spotify has not explicitly stated whether the new basic plan will entail any compromises in audio quality or feature set compared to the existing Premium offering. Subscribers who demand the highest possible audio fidelity may still need to opt for the more expensive plan, which is expected to encompass Spotify’s long-rumored “Supremium” tier.

The Supremium plan, details of which have been circulating for some time, is rumored to include lossless audio streaming and other premium features. Recent sightings of the Dolby Atmos logo within Spotify’s app interface have fueled speculation that spatial audio capabilities could be part of the Supremium package.

While Spotify has yet to officially announce the impending price increases or new subscription tiers, the company’s actions underscore the ever-evolving landscape of the streaming media industry.