After increasing the cost of its premium plans earlier this month, Spotify on Friday unveiled a new streaming option for US customers.T
New Basic Plan
For qualified consumers, the new basic plan will begin at $10.99 per month. It will lack a monthly audiobook listening time, but it will have all of the premium plan’s streaming features.
Users of premium subscriptions can enjoy 15 hours of monthly audiobook listening time in addition to offline, ad-free music.
Earlier in June, Spotify increased the cost of its premium plans. Marking the latest move in the Swedish music streaming service’s attempt to boost profits.
Spotify Plan’s Monthly Cost
The plan’s monthly cost increased to $11.99 from $10.99. The pair plan’s to $16.99 from $14.99, and the family plan’s to $19.99 from $16.99 in the United States, its largest market by revenue.
Following years of depending on heavy investments and promotions to fuel user growth.
Spotify has been attempting to increase its profits in recent months by cutting marketing spending and making layoffs.
Streaming Behemoth Plans
According to a source, the audio streaming behemoth plans to launch a new, pricey plan for its most dedicated customers later this year.
This plan is expected to cost an additional $5 per month. And grant access to improved audio quality as well as new playlist creation and song library management capabilities.
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