I work out an incomplete proof, maybe you can complete it.
Suppose that both numbers are primes, that is :
$$\frac{a^n-1}{b^n-1}=p_1 \:\:\:\:\text{and} \:\:\:\:\ \frac{a^{n+1}-1}{b^{n+1}-1}=p_2$$
Now I can rearrange and factorize $a^n-1$ and $a^{n+1}-1$ in this way:
$$(a-1)(a^{n-1}+a^{n-2}+...+a+1)=p_1 (b^n-1)$$
$$(a-1)(a^{n}+a^{n-1}+...+a+1)=p_2 (b^{n+1}-1)$$
Now if I assume that $a,b \in \mathbb{N}$ and $a\neq b$ otherwise is a trivial solution. Also that $(a-1)\neq p_1$,$(a-1)\neq p_2$, clearly:
$$(a-1)|(b^{n}-1)$$
$$(a-1)|(b^{n+1}-1)$$
In other terms:
$$b^{n}\equiv 1 \mod (a-1) \tag{1}$$
$$b^{n+1}\equiv 1 \mod (a-1)\tag{2}$$
Using some properties of modular arithmetic in (1):
$$b^{n+1}\equiv b \mod (a-1) $$
$$b\equiv b^{n+1} \mod (a-1) $$
Now using (2) $b\equiv b^{n+1} \mod (a-1) $ and $b^{n+1}\equiv 1 \mod (a-1)$ :
$$b\equiv 1 \mod (a-1) $$
This means, $(a-1)|(b-1)$ and we also have $(b-1)|(a-1)$, now as $a,b \in \mathbb{N}$
$$a-1=b-1 \Rightarrow a=b$$
Contradiction !!
Our assumption that both are primes is wrong, so at least one must be prime.
** The other cases when $(a-1)= p_1$ or $(a-1)= p_2$ are not proven. Maybe you can work them out