It’s been almost 4 years since Spotify introduced a HiFi tier for its music streaming service that will help lossless audio. That wait may finish this 12 months, Bloomberg experiences, as the corporate works to finalize particulars, together with streaming rights.
Spotify may cost as a lot as $5 or $6 additional monthly for the brand new tier — mentioned to be named “Music Professional” — which is according to estimates CEO Daniel Ek shared final 12 months. Spotify’s Premium tier presently begins at $11.99 monthly earlier than household or pupil reductions, the results of two worth hikes in as a few years.
Opponents like Apple Music embody lossless streaming of their providers’ base worth, however Spotify reportedly plans to justify the additional cost by together with extra options in Music Professional, together with track remixing and live performance ticket gross sales that will grant subscribers unique offers and early entry.
Earlier this month, Spotify signed a brand new multi-year licensing settlement with Warner Music Group to safe future streaming rights and assist “form the way forward for audio-visual streaming,” with HiFi presumably included in that imaginative and prescient. It inked an analogous cope with Common Music Group in late January, with UMG particularly teasing HiFi streaming and providing additional concepts of what a “superfan” music service may provide. Notable solutions included precedence entry to deluxe version content material and early music releases, in addition to unique listening celebration invitations and artist Q&A periods.
It’s taken slightly longer than anticipated, however it seems to be just like the world’s largest music streaming service might lastly be prepared to show up the quantity on HiFi in 2025.
