There are several turns and turns in the Spotify HiFi story. The music service’s superior streaming tier was first teased more than three years ago, but it hasn’t yet been released. According to recent rumours, Spotify’s premium membership will include lossless audio as an add-on along with additional benefits like AI-powered playlists, sophisticated library management, and optimised headphone sound quality. Additionally, CEO Daniel Ek of Spotify acknowledged on today’s earnings call that the business is still working on a better-than-Premium service, but he did not provide a clear release date.
Ek stated that the project is still “in early days,” which may be my all-time favourite way to phrase a common expression in the tech business. (For those keeping track at home, Spotify initially revealed HiFi 1,247 days ago.) “Our goal is to provide a significantly enhanced version of Spotify,” stated Ek. Consider spending around $5 more than the present premium tier. It’s sort of a deluxe version of Spotify, with all the features of the standard version plus a lot more control, greater quality overall, and a few other things I’m not ready to discuss just yet. It will probably cost approximately $17 or $18.
That price would be in line with Bloomberg’s projections that the tier will cost an additional $5 on top of Spotify’s $11.99 monthly subscription fee. Spotify’s lossless audio would eventually take a far different shape from what the business had originally planned. It appears that when Apple and Amazon started including higher-resolution music in their regular membership levels, Spotify was completely unprepared. The top music streaming service has always planned to sell it for more money.
Those corporations have many divisions to offset any losses, so they can be more aggressive with their pricing. Spotify isn’t as fortunate, so the firm had to change its strategy and create an add-on bundle that it hopes will appeal to as many of the app’s ardent users as possible. At last, it appears that the moment is perfect.
A sizable portion of Spotify’s 246 million users, according to Ek, desire an upgraded version of the service. “Those are truly passionate music fans who want even greater control over how they use Spotify and its music features.”
According to a Bloomberg article, Spotify plans to release its “deluxe” version—as Ek puts it—later in the year. We now only have a few months to find out everything the add-on plan comprises, after all this waiting.
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