Spotify Launches New “Basic” Premium Plan Without Audiobooks

Spotify is making extra adjustments to its subscription choices.

On Friday, the streaming app launched a brand new “basic” premium plan that gives its standard perks however with out audiobooks. Priced at $10.99, this plan consists of the usual streaming advantages however doesn’t provide the month-to-month audiobook time included within the full premium plan.

“Enjoy the music streaming benefits of your Premium plan without the monthly audiobook listening time,” Spotify introduced.

Earlier this month, Spotify elevated its premium subscription costs to enhance revenue margins. The fee for the person plan went up from $10.99 to $11.99 per 30 days, the duo plan jumped to $16.99 per 30 days, and the household plan elevated to $19.99 per 30 days.

Moreover, the corporate presents an audiobook-only plan that features 15 hours of listening time for $9.99 per 30 days. Launched on March 1st, the audiobook entry plan permits Spotify to decrease music-licensing charges for plans that mix music and audiobooks. Due to a 2022 deal, bundles like Spotify’s music-plus-audiobook tier profit from diminished licensing charges, much like Amazon Prime and Apple Music.

Just lately, Spotify has tried to spice up margins by slicing advertising and marketing spending and shedding workers after years of heavy promotions and main investments. Based on Bloomberg News, the corporate plans to launch a dearer plan later this yr, reportedly costing $5 extra per 30 days. This plan is alleged to supply higher audio high quality and new options for creating playlists and managing songs.