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Spotify CEO confirms "deluxe" tier with high-res audio, more control, and $18 monthly price tag is on its way

Spotify HiFi was first announced by the company in February 2021 - more than 3 years ago today. (Image source: Spotify [edited])
Spotify HiFi was first announced by the company in February 2021 - more than 3 years ago today. (Image source: Spotify [edited])
Spotify CEO talked about a "deluxe" version of Spotify today during an earnings call. The premium tier with Hi-Fi audio, which is still in the works, is expected to cost around $18 and offer features like advanced library management and AI-powered playlists. This comes after delays to the initial "Spotify HiFi" plan and a shift in strategy to compete with rivals like Apple Music. While the exact features are unknown, the rollout is still reportedly happening later in 2024.

Spotify CEO Daniel Ek confirmed during an earnings call that the company is 'still' developing a higher-tier subscription plan offering improved audio quality and additional features. Even after UI design and pricing plan leaks, expectant users are almost as elusive regarding Spotify HiFi as they were some months (or even years) ago.

While a firm release date is yet again absent, Ek hinted at a "deluxe" version priced around $17-$18 per month, representing a $5 increase over the standard Premium tier. This is in line with a previous leak that hinted towards a $16.99 Spotify Hi-Fi plan. The new tier is expected to include lossless audio streaming, advanced library management tools, AI-powered playlists, and headphone/EQ optimization features.

Analysts state that Spotify's initial strategy of selling lossless audio as a separate add-on may have been a bad idea, considering its competitors like Apple Music includes high-res audio within their base subscriptions ($10.99 a month).

In a strong second quarter, Spotify reported a 14% year-over-year increase in monthly active users to 626 million, with subscribers growing 12% to reach 246 million. Overall revenue climbed 20% to €3.8 billion, with gross margin reaching 29.2% and operating income improving to €266 million. CEO Daniel Ek attributed this success to relentless innovation.

With a potential rollout later in 2024, the exact features and functionalities of this "deluxe" tier will be (hopefully) revealed in the coming months.

Spotify also reported Q2 performance during its earnings call earlier today. (Source: Spotify)
Spotify also reported Q2 performance during its earnings call earlier today. (Source: Spotify)

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> Expert Reviews and News on Laptops, Smartphones and Tech Innovations > News > News Archive > Newsarchive 2024 07 > Spotify CEO confirms "deluxe" tier with high-res audio, more control, and $18 monthly price tag is on its way
Anubhav Sharma, 2024-07-23 (Update: 2024-07-24)