Spotify Launches Basic Streaming Plan

Spotify Launches , Basic Streaming Plan.

The streaming company announced the new "Basic" plan on June 21, TechCrunch reports.

It will cost $10.99 per month, but it won't grant access to audiobooks.

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Other than that, the Premium benefits will remain the same.

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The news comes after Spotify raised its Premium plan price to $11.99 a few weeks ago.

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The new "Basic" plan could be the first of a few new subscription tiers, TechCrunch reports.

Spotify is reportedly developing a "Supremium" plan at the moment which would grant access to high-fidelity audio.

According to 'Bloomberg,' that tier will cost a minimum of $5 more each month.

The streaming giant reported a 20% revenue increase in April.

It also saw Premium subscriptions increase by 14%.

Spotify's Q2 2024 earnings are expected to be released on July 24