What's Happening?
Spotify has expanded its audiobook service to include family plan members in the U.S. for the first time. The new Audiobooks+ plan, priced at $11.99 per month, allows subscribers and their household members to access 15 hours of audiobook listening each month. This expansion follows Spotify's initial launch of audiobooks in the U.S. in 2022, which was previously limited to individual subscribers. The Audiobooks+ plan aims to enhance the value of Spotify's offerings by providing additional content to family and Duo plan members, who can now enjoy audiobooks alongside music and podcasts.
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Why It's Important?
This expansion marks a significant enhancement to Spotify's service, potentially increasing its appeal to families and multi-user households. By offering audiobooks to more users, Spotify is diversifying its content offerings, which could lead to increased subscriber retention and growth. This move also positions Spotify to better compete with other audiobook providers, potentially capturing a larger share of the audiobook market. For consumers, it provides a more comprehensive entertainment package, making Spotify a more attractive option for families seeking diverse audio content.
