According to Bloomberg, Spotify is planning to launch its lossless streaming feature, “Spotify HiFi,” in a new subscription tier called “Supremium.” This move comes after competitors Amazon Music and Apple Music began offering lossless streaming as part of their standard plans at no additional cost.
Details of the New Plan
The new more expensive plan could be launched later this year, initially in non-US markets. The pricing of Spotify HiFi has been a topic of much speculation since its announcement back in February 2021. The delay of HiFi’s release was due to Amazon and Apple’s announcements. Spotify’s co-president Gustav Söderström confirmed that HiFi is still on the way and that the company is still working out the financials of the offering. In October 2020, a Spotify survey suggested that the feature could be charged at $19.99 as part of a “Platinum” plan, which could also include audiobook access as part of a future plan.
Spotify’s current premium tier subscription has been priced at $9.99 in the US since its launch in the country. Meanwhile, competitors Apple and Amazon have increased the prices of their standard tiers to $10.99.
Spotify spokesperson Laura Pezzini said in an email to The Verge, “At Spotify, we are constantly iterating and ideating to improve our product offering and offer value to users. But we don’t comment on speculation around possible new features and do not have anything new to share at this time.”
Bloomberg also reported that Spotify is considering bundling access to audiobooks into its current Premium tier in the US from October, and potentially sooner in other markets. Access could be offered to a certain number of hours of audiobooks or a specific number of titles. Spotify already offers audiobooks, but they are currently sold on an individual basis.
Spotify’s new subscription tier, “Supremium,” will feature lossless audio streaming, which will be launched later this year, initially in non-US markets. The pricing of the subscription is yet to be released, but a Spotify survey suggested that the feature could be charged at $19.99 as part of a “Platinum” plan. Spotify is also considering bundling access to audiobooks into its current Premium tier in the US from October, and potentially sooner in other markets. However, the company has not confirmed any of these plans yet.