Spotify has maintained the top position among music streaming services. Despite competition from arch-rivals like YouTube Music and Apple Music, it has held a solid footing via playlists and more so through personalized recommendations. Other than these, the free ad-enabled tier gives a lot of traction.
More Paid Plans on Spotify
It currently has six paid plans, Individual, Student, Duo, Family, and Audiobook Access plans. Last month, it announced a Basic plan for $11, now, it seems the app is targeting a seventh plan.
Spotify began testing a Hi-Fi tier back in early 2021. But it never amounted to anything. Of course, Tidal and Apple Music already support lossless streaming. It isn’t all bad news for Spotify users, however. A new report suggests a Hi-Fi tier could still arrive this year.
CEO Daniel Ek Confirms It
On the company’s second-quarter 2024 earnings call, CEO Daniel Ek finally talked about the Hi-Fi tier. He highlighted some amazing performance metrics Spotify has had. Ek acknowledged that there is user demand for greater audio quality.
Ek hinted at what the price of this Hi-Fi tier will be, stating that it may be $5 more than what the current premium tier is. That is, this deluxe version would yield higher audio quality and more control. Control details are still blurred at this point.
Ek believes the Hi-Fi tier will help raise standards in the music industry. He said, “It’s early days.” As such, users may have to be patient for a little while longer. All in all, Spotify’s new Hi-Fi tier is going to prove to be some very exciting improvements.
