Spotify’s will reportedly launch HiFi audio through a costlier premium subscription

A few years after its authentic announcement, Spotify will lastly launch its HiFi tier with lossless music streaming through a “Supremium” plan later this 12 months, which could price greater than the present premium plan of $9.99 per thirty days.

A report by Bloomberg famous that the corporate is launching this new plan to bolster its income and in addition appease buyers asking for a value increase. The plan will additionally embody entry to audiobooks and will first launch in non-U.S. markets. Bloomberg famous that the corporate is discussing launching this “Supremium” plan within the U.S. in October if issues go nicely in different markets.

Last October, a Reddit person famous that they have been surveyed about a “Platinum tier” subscription costing $19.99 per thirty days that included entry to HiFi music, headphone tuner, and limited-ad podcast listening together with some further options for playlist administration and libraries.

The firm first introduced the HiFi tier again in 2021. But the launch has been delayed. Last 12 months, CEO Daniel Ek hinted that the launch was pushed as a result of licensing points.

Soon after Spotify’s announcement, Apple launched assist for lossless music to Apple Music with out further price in May 2021. At the identical time, Amazon additionally made a transfer to improve its Amazon Prime Music subscription to incorporate entry to HiFi music.

Last 12 months, Apple Music raised its subscription charges from $9.99 to $10.99 per thirty days. Earlier this 12 months, Amazon additionally made a related change to its Amazon Music Unlimited private plan. On the opposite hand, Spotify nonetheless presents its premium plan at $9.99 per thirty days — however the firm raised its base subscription value in some worldwide markets.

During its Q1 2023 earnings name, Spotify introduced that it has greater than 500 million month-to-month energetic customers and over 210 million premium subscribers. The costlier plan may not essentially push the subscriber quantity by a lot, nevertheless it ought to improve the typical income per person and add worth to individuals who wish to entry lossless music from Spotify.