Spotify CEO confirms a ‘deluxe’ model with hi-fi audio is coming quickly

The saga of Spotify HiFi has many twists and turns. First introduced over three years in the past, the music service’s higher-quality streaming tier has nonetheless but to materialize. Latest stories have mentioned lossless audio shall be bundled along with different perks (like superior library administration, AI-powered playlists, and headphone sound high quality optimization) as an add-on to Spotify’s premium subscription. And at the moment, throughout Spotify’s earnings name, the corporate’s CEO, Daniel Ek, confirmed {that a} better-than-Premium providing continues to be within the works — although he provided no agency timetable as to when it’ll be accessible.

In what is likely to be my favorite-ever use of a cliche tech business phrase, Ek mentioned the hassle continues to be “in early days.” (For these retaining rating at dwelling, it has been 1,247 days since Spotify first introduced HiFi.) “The plan right here is to supply a lot a significantly better model of Spotify,” Ek mentioned. “Assume one thing like $5 above the present premium tier. So it’s most likely round a $17 or $18 worth level, however kind of a deluxe model of Spotify that has the entire advantages that the conventional Spotify model has, however much more management, loads greater high quality throughout the board, and another issues that I’m not prepared to speak about simply but.”

That pricing would match Bloomberg’s estimates of the tier costing round $5 additional on high of Spotify’s $11.99 month-to-month fee. No matter last type Spotify’s lossless audio finally takes shall be a lot totally different than what the corporate first envisioned. By all indications, Spotify was caught flat-footed when Apple and Amazon started providing higher-resolution audio as a part of their commonplace subscription plans. The main music streamer had at all times supposed to promote it for an added premium.

These firms might be extra aggressive with pricing since they’ve bought quite a few different divisions to assist steadiness out any losses. Spotify isn’t so fortunate, so the corporate has needed to rejigger its plans and give you an add-on package deal that can hopefully show compelling to as lots of the app’s energy customers as potential. Lastly, the timing appears to be proper.

“There’s a great subset of that group of 246 million subscribers that need a significantly better model of Spotify,” Ek mentioned. “These are large music lovers who’re primarily in search of much more flexibility in how they use Spotify and the music capabilities that exist on Spotify.”

Bloomberg reported that Spotify goals to roll out its “deluxe” model (as Ek refers to it) later this yr. So, in any case this ready, we’ve solely bought just a few months left earlier than we be taught every thing that the add-on plan entails.