Spotify is launching a more expensive premium plan later this year that includes HI-FI Audio.
According to a familiar source, Spotify is set to launch a more expensive premium subscription later this year. This option targets users seeking superior sound quality. The new tier, costing at least an extra $5 per month, will feature enhanced audio (High Fidelity), along with new tools for managing song libraries and playlists. This option will be available as an upgrade and will not impact existing subscription plans. The pricing for the new tier will average about 40% more than the current price, with variations based on each user’s base plan.
Spotify first announced High-Fidelity audio in 2021 but faced delays and is finally preparing to launch this feature. This move comes as the streaming service competes with rivals like Apple Music, Amazon Music Unlimited, Tidal, and Deezer, all of which offer High-Fidelity audio at similar price points to Spotify’s current individual plan. Beyond music, Big Tech giants like YouTube and Amazon‘s Audible are also vying for listeners’ attention through podcasts and audiobooks, respectively, intensifying the battle for consumer engagement.
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Recently, Spotify increased its subscription prices in the US by up to $3, marking its second price adjustment in a year amid intensifying competition in the music-streaming industry. This could be significant for the platform, as Bloomberg’s latest report suggests the new premium plan could generate hundreds of millions of dollars in additional revenue. Additionally, according to confirmation from co-founder and CEO Daniel Ek, a new “music-only” membership tier is coming to Spotify. This will be part of a stacked menu of subscription levels that also includes audiobook-only options. According to Spotify, existing US-based members will receive an email regarding the upgrade over the next month. This email will outline that the new subscription pricing will take effect on their billing date in July.
