Spotify recently launched a new "Basic" premium plan priced at $10.99 per month, offering streaming music benefits without audiobooks. This comes just weeks after the platform raised prices for its premium subscription options, such as the Premium Individual plan. The company cited the addition of audiobooks as a reason for the price hikes but is now offering an option for music-only subscribers. This move showcases Spotify's willingness to adjust its offerings to maximize revenue from subscribers. Additionally, Spotify is allowing users of its ad-supported tier to add audiobooks for $9.99 per month. This strategic shift aims to appeal to different types of listeners, catering to both music and audiobook enthusiasts. As Spotify strives to become a profitable business, introducing new content, subscription options, and advertising strategies are crucial for reaching this goal.