Spotify is planning a more expensive subscription option that’s expected to include “high-fidelity” audio in an effort to drive more revenue. Apple Music began offering lossless audio in June 2021, along with Spatial Audio (that Spotify does not offer), all at no additional cost to Apple Music subscribers.
Ashley Carman for Bloomberg News:
Dubbed “Supremium” internally, according to people familiar with the strategy, the new tier will be Spotify’s most expensive plan and likely offer a HiFi feature the company first announced it was working on in 2021. Spotify delayed that product’s rollout after two of its competitors, Apple Music and Amazon Music, began offering the feature for free as part of their standard plans. The new tier will launch this year in non-US markets first.
Chief Executive Officer Daniel Ek said on an earnings call earlier this year that the company balances pricing changes with the desire to grow subscribers. In 2022, the company increased prices in more than 40 markets.
MacDailyNews Take: Alternate headline: Spotify suckers to pay more for less.
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