Spotify introduces a new Basic streaming plan in the US
Spotify has unveiled a new “Basic” streaming plan in the United States, priced at $10.99 per month. This plan offers all the features of a Premium subscription except for the monthly allowance of audiobook listening time.
The launch of this new plan follows Spotify’s recent increase in the price of its Premium plan from $10.99 to $11.99. The adjustment was intended to help cover the costs associated with offering audiobooks on the platform, as reported by Bloomberg.
The Basic plan provides a more affordable option for users who primarily seek access to music and podcasts and do not utilize the 15 hours of audiobook listening included in the Premium plan.
Additionally, this Basic plan could mark the beginning of a series of new subscription tiers from Spotify. There are rumors of a forthcoming “Supremium” plan that would feature high-fidelity audio, expected to cost at least $5 more per month, according to Bloomberg’s sources.
In April, Spotify reported a significant increase in revenue and premium subscribers, along with achieving a record quarterly profit. The company’s upcoming Q2 2024 earnings report, scheduled for release on July 24, will provide further insights into its financial performance and subscriber growth.
