Music player that allows for playlists organized in folders?

Using iTunes, I rely pretty heavily on grouping playlists into folders to organize my music/audio collection. For example, I have an audiobook folder that houses subfolders for each author. Within each author folder, I'll create playlists for all of the audiobook files. I've yet to find a music player that supports this type of organizational structure of folders that house playlists. Anyone have a recommendation?

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