Spotify are introducing a higher priced Premium plan, rather than adjusting their current price. The new plan will include HiFi streaming and more audiobook options.
Spotify haven’t raised their standard $9.99 subscription, despite being encouraged to do so. However, they have decided instead to introduce a new tier of Premium. Daniel Ek, Spotify CEO has said the company is “readying an entirely new, higher-priced subscription tier”.
There is no set plan on the pricing for this new tier. However, it has been said it will be the most expensive tier yet. HiFi is a feature Spotify have spoken about since 2021, but we’ve yet to see it on devices. It’s now officially happening – so they say.
The new subscription tier will be introduced to non-US markets first. These markets should see the changes later this year. HiFi has said to be one of the most requested features by users. Despite Spotify saying they’ll release the feature, it has never arrived.
After their first announcement in 2021, Spotify announced again in October 2022 they’d be releasing a new tier system which included HiFi. It was supposed to be a $19.99 per month Platinum deal. Despite their competition upping their prices, Spotify haven’t.
Apple Music took their subscription from $9.99 to $10.00 in the US and from £9.99 to £10.99 in the UK. But, Spotify remained the same. By introducing a Supremium tier, Spotify could have their own method of increasing sales.
Will Spotify ever launch their new tier? Or, will HiFi forever remain a myth? It will be interesting to see when this new Premium tier becomes available, and why outside the US first when such a large part of their market is based there?