Spotify plans to raise prices for its Premium subscriptions in the U.S., U.K., Australia, Pakistan, and two other markets by about $1-$2 per month, with the increase expected to roll out by the end of the month. The company is also reportedly working on new subscription tiers, including one for music and podcasts priced at $11 without audiobook access, as it seeks to fund its audiobook offerings. CEO Daniel Ek noted the positive performance of the audiobook business and its potential during the company's fourth-quarter earnings report.
Elon Musk announced that social media platform X, formerly known as Twitter, will soon introduce two tiers of premium subscriptions. One tier will offer all features at a lower cost but with ads, while the other tier will be more expensive but ad-free. Musk aims to increase revenue by charging users and attracting advertisers back to the platform. X recently conducted a test case in New Zealand and the Philippines, where new users who didn't subscribe were limited to "read only" actions. The platform's subscription method, called "Not A Bot," aims to reduce spam and bot activity. Other tech companies, like YouTube and Netflix, have also experimented with ad-supported and subscription plans. X did not disclose if content creators will be paid in the ad-free subscription models.
