Spotify The company is introducing a new “Basic” streaming plan in the US Announce Friday. The new plan costs $10.99 per month and includes all the features of the Premium plan but without the monthly audiobook listening time.

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 mentioned While higher prices will help the streaming service cover the cost of audiobooks.

With the new Basic plan, users can go back to the $10.99 price but only have access to music and podcasts. The new plan could be a good option for users who don’t use the 15 monthly hours of audiobook listening that comes with the Premium plan.

The plan could also be the first of several new tiers from Spotify, with the streaming giant said to be developing a “Supremium” plan that includes high-resolution audio. The plan will reportedly cost at least $5 more per month, according to Bloomberg.

In April, Spotify mentioned 20% increase in revenue, 14% increase in premium subscribers, and a Recording quarterly profits. Spotify is expected to report its second-quarter 2024 earnings on July 24.

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