Spotify has confirmed that it’s engaged on a “deluxe” model of its subscription that provides hi-fi (excessive constancy) audio streaming, however the firm remains to be in “early days” of planning, CEO Daniel Ek mentioned throughout the firm’s quarterly earnings name on Tuesday. When launched, this plan is alleged to be priced significantly larger than its present Premium plan. The Swedish audio streaming service first introduced its determination to introduce a high-end subscription service dubbed Spotify HiFi in 2020.
Spotify’s “Deluxe” Plan
Through the earnings call, Spotify’s CEO revealed {that a} new subscription plan, that may sit above its Premium plan, is in improvement. “The plan right here is to supply a a lot better model of Spotify”. Nonetheless, the official didn’t delve into particulars of its rollout timeline.
As per the CEO, this new subscription can be a “deluxe” model of Spotify, providing hi-fi audio, and different advantages, along with current options of Spotify Premium. Whereas he remained cryptic about different choices included on this plan, earlier experiences have speculated that the streaming service might bundle a characteristic that lets customers generate playlists utilizing synthetic intelligence (AI) and amongst different instruments.
The plan will not be simple on the pocket, in line with Spotify’s CEO, who mentioned that the deluxe plan might price no less than $5 (roughly Rs. 419) extra monthly than Spotify Premium, which prices $11.99 (roughly Rs. 1,000) for the Premium Particular person plan.
“Assume one thing like $5 above the present premium tier. So it is most likely round a $17 or $18 value level, however type of a deluxe model of Spotify that has all the advantages that the traditional Spotify model has, however much more management, quite a bit larger high quality throughout the board, and another issues that I am not prepared to speak about simply but,” Ek mentioned throughout the earnings name.
Notably, Spotify’s opponents, similar to Amazon Music and Apple Music, supply lossless audio streaming with none added price. Nonetheless, each platforms are solely out there through a paid subscription and don’t have an ad-supported free plan which Spotify provides, albeit with sure restrictions.
The CEO additional revealed {that a} “good subset” of the streaming service’s complete consumer base desires a “a lot better” model of Spotify. Its new subscription plan is claimed to deal with this space, providing extra controls than simply high-res audio streaming.
