Spotify is gearing up to release a new Hi-Fi audio subscription plan, priced between $17 and $18 per month. CEO Daniel Ek shared the news during the company's recent earnings call, highlighting the features and the appeal of the forthcoming service.
Premium Sound and Improved Features
This new subscription level will expand on Spotify's existing premium plan, delivering lossless audio quality to its users. Those who opt for this tier will benefit from refined control over their music libraries, AI-driven playlists, and optimized headphone sound profiles. Ek pointed out that this enhancement is tailored for Spotify's most avid users, offering “a much better version of Spotify.”
Spotify's introduction of Hi-Fi audio has been in the works for some time. Originally announced in 2021, the launch faced setbacks. In the meantime, rivals Apple and Amazon started offering high-resolution audio as part of their standard subscriptions. Without diverse revenue channels like those of its competitors, Spotify had to carefully consider its pricing and features for this new tier.
Focus on Music Enthusiasts
With 246 million subscribers, Spotify aims to capture the segment of dedicated music lovers who crave higher audio quality and extensive listening options. The company plans to release the new tier later this year, targeting those power users with its elevated features. Ek noted that the timing finally feels right for this introduction as market conditions and user interest converge favorably.
Costing roughly $5 more than the current premium subscription, the new tier seems aligned with prior predictions. Beyond offering Hi-Fi audio, it will include innovative playlist creation tools. Ek mentioned that these plans are in their initial stages, signaling exciting developments ahead.
