It’s been almost 4 years since Spotify introduced a HiFi tier for its music streaming service that might assist 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 per 30 days for the brand new tier — mentioned to be named “Music Professional” — which is consistent with estimates CEO Daniel Ek shared final 12 months. Spotify’s Premium tier presently begins at $11.99 per 30 days earlier than household or pupil reductions, the results of two value hikes in as a few years.
Opponents like Apple Music embody lossless streaming of their companies’ base value, 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 might 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 recommendations included precedence entry to deluxe version content material and early music releases, in addition to unique listening get together invitations and artist Q&A periods.
It’s taken a bit longer than anticipated, however it appears to be like just like the world’s largest music streaming service might lastly be prepared to show up the quantity on HiFi in 2025.
