May 22, 2024

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Spotify’s long-awaited HiFi tier may require a more expensive subscription

Spotify’s long-awaited HiFi tier may require a more expensive subscription

Spotify reportedly plans to include lossless audio streaming in a new, more expensive subscription tier codenamed “Supremium” internally, according to bloomberg. The lossless streaming feature was first announced in February 2021 as “Spotify HiFi”, but it hasn’t been released in over two years. bloomberg Reports indicate that the new, more expensive plan may be released later this year, initially in non-US markets.

Spotify HiFi’s pricing has been the source of much speculation in the years since its announcement, especially after competitors Amazon Music and Apple Music began offering lossless streaming as part of their standard plans at no extra charge. bloomberg Reports indicate that Spotify delayed the release of HiFi after Amazon and Apple announcements.

In a statement emailed to the edgeSpotify spokeswoman Laura Pezzini said: “At Spotify, we’re constantly iterating and thinking about improving our product offering and delivering value to users. But we don’t comment on speculation about potential new features and don’t have anything new to share at this time.”

“We want to do it in a way that also works for us from a cost perspective.”

In March, Spotify co-president Gustav Soderström confirmed this the edge That HiFi is still on the way. Soderstrom said on an episode of decode in March. “We’re going to do it, but we’re going to do it in a way that makes sense to us and our listeners. The industry has changed and we’ve had to adapt.”

Söderström added that the company is still trying to work out the financials for the HiFi offering. “We want to do it in a way that also works for us from a cost perspective. I’m not allowed to comment on our naming agreements, nor on what other players in the industry have done, for obvious reasons.” In October last year, a Spotify survey suggested it was considering charging $19.99 for the feature as part of a “Platinum” plan. The same survey also hinted that the company could include access to audiobooks as part of a future plan.

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Meanwhile, a single subscription to Spotify’s current premium tier has been priced at $9.99 in the US since its original launch in the country, bloomberg Notes, while competitors Apple and Amazon have increased the price of their standard tiers to $10.99.

bloomberg It also reports that Spotify is considering bundling access to audiobooks at the current Premium tier in the US starting in October, and possibly soon in other markets. A certain number of hours of audiobooks, or a set number of titles, can be given access. Spotify already offers audiobooks, but they are currently sold on an individual basis.

Update June 20, 12:58 PM ET: Added statement from Spotify.