Spotify is introducing a brand new “Fundamental” streaming plan in america, the corporate introduced on Friday. The brand new plan prices $10.99 monthly and contains all the advantages of a Premium plan however with out the month-to-month audiobook listening time.
The launch of the brand new streaming plans comes a couple of weeks after Spotify elevated the value of its Premium plan from $10.99 to $11.99. Bloomberg reported on the time that the upper costs would assist the streaming service cowl the price of audiobooks.
With the brand new Fundamental plan, customers can return to the $10.99 pricing however solely obtain entry to music and podcasts. The brand new plan might be possibility for customers who don’t use the month-to-month 15 hours of audiobook listening that comes with the Premium plan.
The plan is also the primary of a number of new tiers from Spotify, because the streaming big has been stated to be growing a “Supremium” plan that would come with high-fidelity audio. The plan will reportedly value a minimum of $5 extra monthly, based on Bloomberg.
In April, Spotify reported a 20% enhance in income, a 14% enhance in premium subscribers, and a report quarterly revenue. Spotify is predicted to launch its Q2 2024 earnings on July 24.