It’s been practically 4 years since Spotify announced a HiFi tier for its music streaming service that might help lossless audio. That wait might finish this 12 months, Bloomberg reports, as the corporate works to finalize particulars, together with streaming rights.
Spotify might cost as a lot as $5 or $6 further per thirty days for the brand new tier — mentioned to be named “Music Professional” — which is in step with estimates CEO Daniel Ek shared final 12 months. Spotify’s Premium tier presently begins at $11.99 per thirty days earlier than household or scholar reductions, the results of two price hikes in as many years.
Rivals like Apple Music embody lossless streaming in their services’ base price, 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 agreement 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 a similar deal with Universal Music Group in late January, with UMG particularly teasing HiFi streaming and providing additional concepts of what a “superfan” music service might provide. Notable ideas included precedence entry to deluxe version content material and early music releases, in addition to unique listening get together invitations and artist Q&A classes.
It’s taken slightly longer than anticipated, however it seems to be just like the world’s largest music streaming service could lastly be prepared to show up the quantity on HiFi in 2025.