Spotify is planning to launch a new premium tier that will include high-fidelity audio, according to a report by Bloomberg. The new tier, codenamed “Supremium” internally, will be the most expensive plan offered by the music streaming service and will likely offer a HiFi feature that Spotify announced in 2021. The HiFi feature will provide superior sound quality for Spotify’s library of songs, which will appeal to audiophiles and music enthusiasts.
Spotify HiFi has been long anticipated by Spotify users, who have been waiting for over two years since the feature was first announced in February 2021. However, the feature was delayed after two of Spotify’s competitors, Apple Music and Amazon Music, began offering lossless streaming for free as part of their standard plans. Spotify had to adapt its strategy and find a way to make HiFi work for its business model and its listeners.
According to Bloomberg, Spotify will launch the new Supremium tier later this year in non-US markets first, and then expand to other regions. The pricing of the new tier is not yet known, but it is expected to be higher than the current Premium tier, which costs $9.99 per month in the US. Spotify has not increased its Premium price in the US since it launched there, while Apple and Amazon have raised their prices to $10.99 per month.
The new Supremium tier will not only offer HiFi audio, but also expanded access to audiobooks, which are currently sold individually through Spotify’s app. Spotify plans to introduce this feature in the US in October, after first launching it in other markets. Premium subscribers will get a certain number of hours or titles of audiobooks for free per month, and will have the option to purchase more.
Spotify’s move to introduce a new premium tier with HiFi audio and audiobooks is aimed at driving more revenue and satisfying investors who have been urging the company to raise its prices. Spotify has been competing fiercely with Apple and Amazon, both of which have larger ecosystems and more resources than the music streaming service. Spotify has been investing heavily in podcasts and other content to diversify its offering and attract more users.
Spotify Supremium is expected to be a stonking addition to Spotify’s portfolio of plans, which also include a free tier with ads, a family plan, a student plan, and a duo plan. Spotify Supremium will offer a stonking sound quality that will enhance the listening experience for music lovers who care about audio fidelity. Spotify Supremium will also offer more content options with audiobooks, which will appeal to bookworms and learners.
If you are interested in Spotify Supremium, stay tuned for more updates on its availability and pricing. In the meantime, you can enjoy Spotify’s existing features and content on your current plan.
Sources:
– Spotify Rumored to Launch HiFi Audio as Part of New Top-Tier ‘Supremium’ Subscription Plan – MacRumors
– Spotify Plans New Premium Tier, Expected to Include HiFi Audio – MSN
– Spotify’s long-anticipated HiFi tier might require a more expensive subscription – The Verge
