Spotify CEO Daniel Ek confirmed that a high-resolution audio tier, Spotify HiFi, is still in development, hinting at a potential $17-$18 price point. While acknowledging the demand for better audio quality from its 246 million Premium subscribers, Ek emphasized that it’s not for everyone and that it’s a strategy to offer a ‘deluxe version’ of Spotify with enhanced features and control.
Spotify CEO Daniel Ek and other executives have sold off a significant amount of their shares this year, raking in millions of dollars in profits. Ek, who hasn’t taken a salary since 2017, cashed out $118.9 million in shares following the group’s Q2 results. Other top executives, including CTO Gustav Söderström and CFO Alex Norstrom, have also sold millions of dollars worth of shares. The sales come as Spotify’s share price has surged more than 60% since the start of the year.
