According to a recent report by Bloomberg, Spotify is rumored to be launching a new, more expensive subscription service by the end of 2023.
The service, tentatively called ‘Supremium,’ is expected to offer HiFi audio quality and expanded access to audiobooks. Sources familiar with Spotify’s plans have indicated that the rollout of Supremium will initially target countries outside of the United States, and users will be required to pay an additional fee to access the new features.
Despite Spotify’s previous announcement in February 2021 about introducing lossless HiFi audio quality through Spotify Connect, the feature has not yet been made available to users.
In contrast, Spotify’s main competitors, Apple Music and Amazon Music, currently offer free access to HiFi audio playback or “CD quality” music.
Bloomberg’s report also disclosed Spotify’s intention to offer an expanded selection of audiobooks instead of selling titles individually. Premium subscribers would be granted a specific number of free hours or titles each month.
Earlier this year, Gustav Söderström, Spotify’s co-president, acknowledged the delay in implementing HiFi audio and stated that it was still in progress. He explained, “We announced it, but then the industry changed for a bunch of reasons. We are going to do it, but we’re going to do it in a way where it makes sense for us and for our listeners. The industry changed, and we had to adapt.”
While specific pricing details for the new premium options have not been finalized, Spotify previously suggested a potential monthly charge of $19.99 for quality services in a survey conducted with its users in October.
Söderström emphasized the need for a cost-effective approach, stating, “We want to do it in a way where it works for us from a cost perspective as well. I’m not allowed to comment on our label agreements, nor on what other players in the industry did, for obvious reasons.”
Written by: Artificial Intelligence Technology