June 21 (Reuters) - Spotify ( SPOT ) introduced a new
streaming plan for users in the United States on Friday, after
raising prices for its premium plans earlier this month.
The new basic plan will start at $10.99 per month for
eligible users. It will have the streaming benefits of a premium
plan, but no monthly audiobook listening time.
Premium plans allow users to listen to offline ad-free music
and 15 hours of audiobook listening time per month.
Spotify ( SPOT ) raised the prices for premium plans earlier in June,
the latest step by the Swedish music-streaming service in its
push to increase margins.
The company raised prices of its individual plan to $11.99
from $10.99 per month, duo plan to $16.99 from $14.99 and its
family plan to $19.99 from $16.99 in the United States, its
largest market by revenue.
Spotify ( SPOT ) has been trying to boost its margins in recent
months by lowering marketing spending and through layoffs, after
relying on promotions and hefty investments to drive user
growth.
The audio-streaming giant is looking to introduce a new
expensive plan for its most ardent users later this year,
Bloomberg News reported last week, with the plan likely to cost
$5 more per month for access to better audio and fresh tools for
creating playlists and managing song libraries.