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Streaming services have become more prevalent in recent years. While video services like Netflix and Hulu may come to mind first, music streaming services are also an in-demand entertainment option. Top music streaming provider Spotify has a new feature available to some premium users. Find out why your Spotify Premium plan may provide you with more value now.

Introducing Spotify Premium

You may not know the differences between plan options if you’re new to Spotify. A free plan is available for users on a limited budget. However, the free plan doesn’t provide an ad-free listening experience and has more limited features. Spotify also offers Premium options for music lovers who want more account features.

If you want to avoid ads, prefer to have the ability to listen to songs in any order, and want to download songs to listen offline, a Spotify premium plan may be ideal for you. Compared to other streaming app prices, these plans are affordable.

Here’s a breakdown of Spotify’s premium plan options and their price points:

Premium Plan Monthly Price Premium Individual $10.99 Premium Duo (two users) $14.99 Premium Family (up to six users) $16.99 Premium Student (includes Hulu with ads) $5.99
Data Source: Spotify

Spotify now offers audiobooks

Audiobooks can be an excellent alternative if you don’t always have the time or ability to sit down and read a book. You can listen to them while on the go and catch up on the latest books. But buying audiobooks can get expensive, and having to wait months to borrow a popular audiobook from your local library system isn’t always ideal.

But I have some good news: Spotify recently added over 150,000 audiobooks to its collection. As an added benefit, Premium Individual, Premium Duo, and Premium Family users can listen to 15 hours of audiobooks per month at no additional cost.

Audiobooks that are part of the program are marked with a “Included with Premium” note. While writing this piece, I looked at some of the options, and it seems as if many new releases and popular books are available to Premium subscribers, as are older classics.

Unfortunately, this account feature is only available to the primary account manager (the one whose credit card covers the plan cost). That means other users who have joined a Premium Duo or Premium Family plan don’t get access to free audiobook listening. In a recent press release, Spotify said it hopes to expand this offering to other users later.

Considering the affordable price points of these plans, this new feature adds value. If you’re a premium subscriber who likes books, don’t ignore this new feature. If you’ve been considering signing up for a Spotify plan, this new account benefit may entice you to try it. As a new premium subscriber, your first month is free.

Spotify Premium plans offer a more affordable per-user cost

Are you looking for an easy way to save money on streaming expenses? If you’re a Spotify Premium Individual subscriber, you may want to consider switching to a different plan, especially if you live with a roommate, partner, or family member.

Premium Duo and Premium Family plans provide more value because the per-user cost is cheaper. With a multi-user premium plan, multiple people can access unlimited ad-free music streaming at a more affordable price.

You’re wasting money if more than one person in your household pays for individual plans. You can keep more money in your bank account by subscribing to a shared plan and splitting the cost. For additional ways to save money, check out our personal finance resources.

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