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Wednesday, February 28, 2024

Spotify’s long-anticipated HiFi tier may require a costlier subscription

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Spotify is reportedly planning to incorporate lossless audio streaming in a brand new, costlier subscription tier codenamed “Supremium” internally, according to Bloomberg. The lossless streaming function was first introduced in February 2021 as “Spotify HiFi,” however remains to be but to launch over two years later. Bloomberg experiences that the brand new costlier plan might launch later this 12 months, initially in non-US markets.

The pricing of Spotify HiFi has been a supply of a lot hypothesis within the years since its announcement, particularly after opponents Amazon Music and Apple Music began providing lossless streaming as a part of their normal plans at no extra cost. Bloomberg experiences that Spotify delayed the discharge of HiFi after Amazon and Apple’s bulletins.

“We need to do it in a approach the place it really works for us from a price perspective as properly”

In March, Spotify co-president Gustav Söderström confirmed to The Verge that HiFi remains to be on the way in which. “We introduced it, however then the business modified for a bunch of causes,” Söderström mentioned on an episode of Decoder in March. “We’re going to do it, however we’re going to do it in a approach the place it is smart for us and for our listeners. The business modified and we needed to adapt.”

Söderström added that the corporate was nonetheless attempting to work out the financials of the HiFi providing. “We need to do it in a approach the place it really works for us from a price perspective as properly. I’m not allowed to touch upon our label agreements, nor on what different gamers within the business did, for apparent causes,” he mentioned. In October final 12 months a Spotify survey advised it was contemplating charging $19.99 for the function as part of a “Platinum” plan. The identical survey additionally hinted that the corporate might embody audiobook entry as a part of a future plan.

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In the meantime, a single subscription to Spotify’s present premium tier has been priced at $9.99 within the US since its unique launch within the nation, Bloomberg notes, whereas opponents Apple and Amazon have elevated the costs of their normal tiers to $10.99.

Bloomberg additionally experiences that Spotify is contemplating bundling entry to audiobooks into its present Premium tier within the US from October, and doubtlessly sooner in different markets. Entry may very well be provided to a sure variety of hours of audiobooks, or a selected variety of titles. Spotify already gives audiobooks, however they’re presently sold on an individual basis.

Spotify declined to remark to Bloomberg on its report, and a spokesperson didn’t instantly reply to The Verge’s request for remark.



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