Daniel Ek, CEO of Spotify, says that the company is still in the “early days” of its plans to add support for high-fidelity music players. During Tuesday’s earnings call for the company, an executive talked about a new tier called “deluxe.”
The first news about Spotify HiFi came out in 2021. It was going to be a high-end subscription level. At the time, the business said that the tier would let people improve the sound quality to a “lossless audio format of CD quality.” It’s now the middle of 2024, and the company still hasn’t released the grade.
During the call with investors, Ek said, “The plan is to offer a much better version of Spotify.” “Think about an extra $5 on top of the first premium level.” It’s probably around $17 or $18. It’s a kind of deluxe form of Spotify that has all the benefits of the regular version plus a lot more control, better quality all around, and some other things I’m not ready to talk about yet.
The prices are the same as what Bloomberg reported last month, which said that the more expensive premium plan would cost at least $5 more per month. The long-awaited high-fidelity audio streaming will be part of this tier. It will also allegedly have new tools for making playlists and other features.
“There’s a good chunk of those 246 million subscribers who want a much better Spotify,” says Ek. “Those people are huge music fans who want even more freedom in how they use Spotify and the music features that are already there.”
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For years, Apple Music and Amazon Music have let you listen lossless music for free. Some companies may be hesitant to charge users for the tier because they want to make sure they’re getting enough value from it, even though competitors offer it for free. No one knows why Spotify is taking so long to release the tier.
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