Spotify announced a new “Basic” streaming plan in the United States. This latest launch comes weeks after the platform increased the price of its Premium plan from $10.99 to $11.99.
Spotify’s new Basic plan excludes audiobooks but allows listeners to access only music and podcasts. Listeners can now return to the $10.99 pricing, which the previous Spotify standard plan used to cost.
This new plan could be a good option for users who do not use the monthly 15 hours of audiobook listening with the premium plan.
This move could indicate Spotify’s intention to develop a “Supermium” plan that could include high-fidelity audio. Bloomberg reports that the new plan will presumably cost at least $5 more monthly.
Earlier this month Spotify raised the prices of all its subscription plans. The music listening app increased the Primim Individual plans to $11.99 per month, the duo plan was raised by $2 per month to $16.99, and the family plan increased by $3 per month totalling $19.99. However, the student plan, offered at a discounted price to students, remains unchanged at $5.99.
Earlier in April, Spotify saw a 20% increase in revenue, a 14% increase in premium subscribers and a record quarterly profit. Spotify is expected to release its Q2 2024 earnings later on July 24.
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