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Spotify first announced a HiFi tier of music streaming almost four years ago. It looks like its original plans could finally be put into effect this year.
The world’s most popular streaming service Spotify looks set to launch its new HiFi subscription tier this year.
First announced in 2021, Bloomberg has reported that the company hopes to roll out this new feature soon. Speaking anonymously, the source said that Spotify aims to charge an additional $5.99 USD on top of current subscription prices.
This new charge will include higher-quality audio, remixing tools and exclusive access to concert tickets. Given how volatile the ticket market has become in recent years thanks to dynamic pricing and a surge in demand, this would likely be a particularly attractive feature for many music goers.
Spotify is reportedly still ironing out the details and looking to acquire all the necessary rights from major music companies. The cost of the HiFi tier will be different depending on the region, with less-developed markets being offered a cheaper rate.
The increased price for this version of Spotify is likely a viability test for future hikes in subscription costs. Impressively, the platform has almost never had an increase in monthly fees, despite substantial growth in expenses and regularly paying customers.
In fact, Spotify enjoyed its best year for user growth in 2024, posting annual profit for the first time. Its new users were largely from markets in Asia, Latin America and the Middle East. Spotify already had quite an established user base in North America and Europe, so less new customers originated in these regions.
Despite having such a large customer base, Spotify currently offers less features than some of its competitors.
Apple Music and Amazon Music Unlimited already offer higher-quality audio. Tidal and SoundCloud also provide niche remixing tools for users who want to tinker with tracks and alter different layers of music production.
