Spotify is introducing a new “Basic” streaming plan in the U.S., the company announced on Friday. The new plan will cost $10.99 per month and include all the perks of the Premium plan but won't include any monthly audiobook minutes.
The launch of the new streaming plans comes just weeks after Spotify increased the price of its premium plan from $10.99 to $11.99. Bloomberg reported at the time that the increase would help the streaming service cover the cost of audiobooks.
The new basic plan will set users back the $10.99 price, but only gives access to music and podcasts. For users who don't want to take advantage of the 15 hours of audiobook listening per month that comes with the premium plan, the new plan could be a good option.
The plan could also be the first of new Spotify plans, as the streaming giant is said to be developing a “Supremium” plan that would include high-fidelity audio and cost more than $5 more per month, according to Bloomberg.
Spotify reported a 20% increase in revenue, a 14% increase in premium subscribers and a record quarterly profit in April. Spotify is scheduled to report its second-quarter 2024 results on July 24.