Rumours are circulating that Spotify is set to launch a pricier subscription service on its platform by the end of 2023.
According to a recent report by Bloomberg, the streaming service may introduce the ‘Supremium’ plan in the coming months, which will provide HiFi audio quality and expanded access to audiobooks. Sources affiliated with Spotify informed Bloomberg that the rumoured ‘Supremium’ service is expected to be rolled out initially in non-US countries, requiring users to pay more in order to enjoy the new features.
Bloomberg’s report revealed that Spotify plans to enhance its audiobook collection instead of selling titles individually. Additionally, ‘Premium’ users will be granted a specific number of free hours or titles per month.
Despite Spotify’s announcement in February 2021 about the introduction of lossless HiFi audio quality through Spotify Connect, the feature has yet to become available. Spotify’s major competitors, Apple Music and Amazon Music, already offer HiFi audio playback or ‘CD quality’ for free.
Earlier this year, Gustav Söderström, co-president of Spotify, stated in an interview with The Verge that the HiFi feature was still in progress despite the delay. He acknowledged that the industry had undergone changes and that Spotify needed to adapt to ensure the feature’s success.
Specific pricing details for additional premium options have not been finalised yet. However, in a survey conducted in October, Spotify suggested a monthly charge of $19.99 for quality services.
Söderström emphasised the importance of finding a cost-effective approach for Spotify while considering their label agreements and the actions of other players in the industry.
