Spotify will introduce lossless audio and premium tariff in 2021 - insider
Spotify plans to launch a new premium plan with support for high-resolution wireless audio and enhanced playlist creation features at a higher price.
New Spotify plan
Lossless music streaming
Music streaming giant Spotify is reportedly this year will introduce a new expensive premium subscription that will finally offer lossless audio (lossless quality). Music lovers will pay at least an additional $5 for impeccable sound quality and new tools for creating playlists and managing your library.
According to insiders, the company is positioning Hi-Fi as an additional option, and not a replacement for existing tariffs. Users will be able to stay on their current plans unless they opt for advanced features. The total cost will depend on the base rate, but a premium of around 40% is expected. On the news, Spotify shares rose 2.9% this week.
Long-awaited innovation
Spotify announced Hi-Fi audio back in February 2021, but the launch has not yet taken place. While most other music streaming services already offer high quality audio.
Rumors of a new subscription tier follow the recent price hike for Spotify users in many countries. Last week, the company announced that the US rate will increase by $1 per month in July to $11.99. A year earlier, the cost of a US subscription had already increased by $1, to $10.99, after more than ten years of staying the same.
Potential Revenue Source
The new premium plan could bring hundreds of millions of dollars in additional revenue to Spotify, which will then be distributed to music rights holders. It is unclear what percentage of users will be interested in the new tariff and whether songwriters will receive additional royalties.
Adaptive Playlists
In addition to lossless audio, subscribers of the new plan will be able to instantly create personalized playlists for specific activities, dates, seasons, and more. Playlists will be tailored to each user based on their behavior, evolving over time without prompting.
Glossary
- Spotify is a popular streaming service for listening to music
- Lossless audio (Hi-Fi ) - audio recording format without compression and loss of quality
- Streaming - technology for streaming audio and video over the Internet
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Answers to questions
What new features is Spotify planning to introduce in its premium plan?
How will Spotify's new pricing policy be implemented?
What benefits will users of the new Spotify premium plan get?
Will the introduction of a new tariff affect the income of music content copyright holders?
What is the current Spotify subscription pricing situation?
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Discussion of the topic – Spotify will introduce lossless audio and premium tariff in 2021 - insider
According to insider information, in 2021 Spotify will launch a new premium plan with support for lossless audio for an additional fee of about $5. The updated service will offer lossless music, as well as new tools for creating playlists and managing your library.
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Яков
Overall, Spotify has finally decided to add high quality audio! It was about time 🎶 But it seems to me that a 40% markup is too high for a simple improvement in sound quality.
Эмилия
It may be a little expensive, but we will be able to enjoy our favorite music without loss of quality 😍 I would definitely subscribe to the new premium tariff, because... I really appreciate good sound.
Бруно
You guys surprise me 🤨 Why pay more for something you could get for free? I prefer to download music in excellent quality and not depend on the Internet. Plus, it's more profitable.
Матильда
Bruno, as always, you are an opponent of progress 😄 Spotify offers such a cool opportunity - create playlists for any mood and situation automatically! This is the bomb 💣 I will definitely need this.
Йозеф
I like the idea of adaptive playlists 👌 Sometimes it’s so difficult to choose music for a specific moment. If the system really learns to do this, it will be great! At least I'm willing to try it for a reasonable price.
Гжегож
Eh, young people... Why do you need these unnecessary bells and whistles? 🧐 In my time, people listened to music on the radio or bought vinyl records. And nothing, they lived happily! And now this whole thing with paid subscriptions and high quality... A waste of money, in my opinion.
Эмилия
Grzegorz, times are changing, and you need to keep up with the times 🚶♀️ The convenience of music streaming services is very valuable. And the opportunity to listen to high-quality sound is just a bonus for music lovers like me 🎵
Матильда
I completely agree with Emilia! 💯 I hope Spotify doesn’t disappoint and the premium subscription lives up to expectations. What do you guys think? Is anyone going to formalize it?