How Much Does Price Matter? Audible’s Cheaper Plan Sets Sail

Photo Credit: Audible

As WMG bangs the drum on streaming price increases, Audible launches a cheaper ‘Standard’ plan to better compete with Spotify.

So how price-sensitive are streaming subscribers worldwide? Since Warner chief Robert Kyncl sent a letter to shareholders pushing for more streaming increases to maximize the music industry’s “wallet share,” expect to see streaming platforms hike prices again in the coming months.

But the rise of more “affordable” pricing tiers—such as Audible’s new “Standard” subscription plan—still shows the potential to raise prices on existing tiers without alienating budget-conscious customers.

The Amazon-owned Audible announced the new “Standard” plan on Tuesday, which costs $8.99 per month. That’s a whopping $6 cheaper than the platform’s existing “Premium” plan, which will set you back $14.95 per month.

With the Standard plan, subscribers get to choose one audiobook per month from Audible’s catalog, as well as unlimited listening from a curated library that includes a wide selection of Audible Originals—including some formerly Wondery+ exclusive content.

Notably, subscribers will lose access to the audiobooks they’ve selected once they stop paying for the tier. That’s different from the Premium tier, which lets users keep the audiobooks they’ve listened to even if they unsubscribe.

“By expanding our membership options, we’re maximizing access for lighter listeners while enabling publishers and creators to reach new audiences—a win-win that grows the entire audiobook category,” said Cynthia Chu, Chief Financial and Growth Officer at Audible.

The arrival of the new Audible tier comes amid Amazon’s broader competition with Spotify, which launched audiobooks on its platform in 2022. Spotify offers audiobooks bundled with music and podcasts as part of its Premium tier.

According to Spotify, the number of users listening to audiobooks rose 36% in the past year, while listening hours increased by 37%.

But Spotify recently enacted a price hike of its monthly subscription for the third time in three years—which could leave plenty of room for competitors like Audible/Amazon. That is, assuming Audible doesn’t raise the price of its other tier to compensate.

Audible’s Standard plan is rolling out in the United States, Canada, the United Kingdom, Australia, Germany, and France, while additional markets are in the testing phase.