Anticipated Release of High-Fidelity Streaming from Spotify this Year
Spotify's annual subscription plans are set to become more intricate this year, with rumors of a new HiFi streaming tier priced at an additional $6 per month. Known internally as Music Pro, this new tier aims to charm customers with early access to concert tickets, even though they'll still rely on Ticketmaster for ticket sales.
Based on anonymous sources, Bloomberg reports on the latest developments. This new HiFi subscription layer may sit on top of the existing $12 Spotify Premium subscription, but details like availability for family plans or student discounts remain unclear. The report also mentions that Spotify is yet to finalize the specifics, and a launch date hasn't been announced yet.
Preliminary talks with promoters and ticket companies suggest that Music Pro subscribers might gain privileged access to presales and improved seat selection for major events, potentially giving them an upper hand against Ticketmaster's scalpers.
Now, it's not a secret that Spotify is all-in for AI. The music streaming giant could be planning to offer AI-powered remixing tools for its subscribers, allowing them to blend tracks from various artists. However, it's important to note that these features might be rolled out incrementally, so HiFi audio enthusiasts might be the first to benefit.
While we wait for Spotify to pull the trigger, remember our disappointment when HiFi didn't materialize two years ago, or even by the end of 2024. The company remains tight-lipped about the progress, leaving us guessing if HiFi audio will ever become a reality.
Spotify made history in 2024, posting its first-ever year of profitability. It will be interesting to see if the new tier structure includes yet another price increase. Last year, Spotify adjusted its annual subscription costs, and even introduced a $10 Audiobook-centric subscription.
Sources:[1] Bloomberg[2] TechCrunch[3] CNET[5] Variety
- By 2024, technology might have made the difference between HiFi audio from Music Pro and Ticketmaster's service so indistinguishable that subscribers may not need to rely on scalpers for improved event experiences.
- The potential addition of AI-powered remixing tools to Spotify's services, only available for Tech Pro subscribers in the future, could further incentivize customers to upgrade their plans.
- Many industry analysts believe that the introduction of the HiFi streaming tier in 2024 might prompt competitors like Apple Music and Tidal to follow suit, thereby setting a new trend in the music streaming industry.
- If Spotify decides to extend incentives like privileged presale and seat selection options to all of its subscribers in 2024, the company could gain an edge in the market by making HiFi audio accessible to a larger audience.
