The fact that Spotify is developing a high-resolution audio tier, known as Spotify HiFi, is no surprise. The company has been teasing this feature since early 2021. However, the world’s leading music streaming service still hasn’t launched it, unlike competitors like Apple Music, Amazon Music, and Tidal. During Spotify’s second-quarter 2024 earnings call on July 23, 2024, CEO Daniel Ek finally addressed the audiophile elephant in the room. He acknowledged that a significant portion of Spotify’s 246 million Premium subscribers desire higher quality audio. Ek has also previously stated that lossless audio isn’t for everyone – and indeed, there’s a real possibility that you might not be able to discern the difference. This could explain the three-year delay in the feature’s release. Ek described the plan as offering a ‘much better version of Spotify.’ He envisions it as a ‘deluxe version’ priced around $17 to $18, a $5 premium over the current Premium tier. This ‘deluxe’ version would retain all the benefits of the standard Spotify offering but provide enhanced control and significantly higher audio quality across the board. While Ek declined to provide specifics about the launch date, he emphasized that Spotify HiFi, previously advertised as ‘lossless CD-quality,’ will be a positive step for the music industry as a whole. He believes it will further stimulate growth within the industry. Despite the excitement, Ek admitted that it’s still early days for Spotify HiFi.
Spotify HiFi Still in the Works, CEO Hints at $17-$18 Price Point
