Any songs, playlists, artists, albums, and podcasts you saved before while you were on the Premium Plan will still be in Your Library even if you downgrade to Free.
You'll just lose yourOffline music and Premium-Only features (like being able to download songs, don't get any ads, etc). Don't worry, once you're back on Premium you'll have all of these features again!
Hope this helps 🙂
Help others find this answer and click "Accept as Solution".
If you appreciate my answer, maybe give me a Like.