Spotify Plans New Premium Tier, Expected to Include HiFi Audio
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Spotify Technology SA is planning a more expensive subscription option that's expected to include high-fidelity audio in an effort to drive more revenue and placate investors who've been saying the company should raise its prices.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. To augment its current “Premium” tier, Spotify will give subscribers expanded access to audiobooks, either through ...