Audible launches a cheaper ‘Standard’ subscription plan, challenging Spotify

Audible is rolling retired a cheaper “Standard” subscription program that costs $8.99 per month, the Amazon-owned institution announced connected Tuesday. The caller program is $6 cheaper than the platform’s existing “Premium” plan, which costs $14.95 per month.

The Standard program includes 1 audiobook per period from Audible’s catalog and unlimited listening from a curated room that includes a enactment of Audible Originals.

Under the caller Standard plan, subscribers volition suffer entree to the audiobooks they’ve consumed erstwhile they unsubscribe. The Premium program lets users support the audiobooks they’ve listened to adjacent if they unsubscribe.

The Standard program besides includes entree to astir 200 of the astir fashionable titles disposable connected the Wondery+ app, which is shutting down successful the coming months.

The Standard program is launching successful the United States, the United Kingdom, Canada, Australia, Germany, and France. Audible is investigating the program successful further markets, the institution says.

The motorboat of the caller subscription plans comes arsenic Audible is facing increasing contention from Spotify, which launched audiobooks successful 2022 and has bundled the format with euphony and podcasts arsenic portion of its ain Premium subscription.

Spotify said past October that the fig of users listening to audiobooks rose 36% over the past year, and listening hours accrued 37%. Additionally, it noted that much than fractional of Spotify’s 281 cardinal premium subscribers person engaged with an audiobook.

Spotify precocious hiked the price of its monthly subscription program for the 3rd clip successful 3 years, perchance opening the doorway to competitors similar Audible.

“By expanding our rank options, we’re maximizing entree for lighter listeners portion enabling publishers and creators to scope caller audiences—a win-win that grows the full audiobook category,” said Cynthia Chu, Chief Financial & Growth Officer astatine Audible, successful a property release.

Audible says aboriginal investigating of the caller program showed beardown subordinate acquisition and retention rates, arsenic investigating successful the United Kingdom and Australia showed that the program drove a double-digit summation successful caller subordinate sign-ups compared with erstwhile offerings. With its enlargement to caller markets, the Standard program is projected to bring successful millions of caller customers, the institution says.