Spotify users are being advised to check their subscription plans, as a new 'Basic' tier could offer annual savings of up to £24 for those who do not utilise the platform's audiobook feature. The advice comes from consumer finance website Money Saving Expert, highlighting a recent change in Spotify's subscription structure.
Previously, Spotify's Premium Individual plan, priced at £11.99 per month, included access to music, podcasts, and 15 hours of audiobook listening. However, the streaming giant has now introduced a 'Basic' individual plan at £10.99 per month. This new, cheaper option provides the same ad-free music and podcast experience but removes the audiobook allowance.
For existing Premium subscribers who primarily use Spotify for music and podcasts and do not engage with the audiobook offering, switching to the 'Basic' plan could result in a saving of £1 per month, accumulating to £12 over a year. Furthermore, Money Saving Expert points out that a 'Premium' plan, which still includes audiobooks, has now increased in price to £12.99 per month, making the potential saving for those who switch from this new higher-priced plan to the 'Basic' plan even greater, at £2 per month or £24 annually.
The change reflects a strategic move by Spotify to diversify its subscription offerings and cater to different user preferences, particularly in light of increased competition in the audio streaming market. It also follows a trend among digital service providers to unbundle features, allowing consumers to pay only for what they use.
Subscribers wishing to make the switch will need to actively change their plan through their Spotify account settings, as the alteration is not automatic. This requires users to log in, navigate to their subscription details, and select the 'Basic' individual plan to downgrade and begin saving. The move could prompt many users to review their digital subscriptions to ensure they are not paying for services they do not fully utilise.