In a nutshell: Spotify could lastly be able to launch a brand new premium subscription tier that features entry to high-fidelity audio. Sources aware of Spotify’s plans advised Bloomberg the brand new plan, which would be the firm’s most costly thus far, can even embody restricted entry to audiobooks as a secondary perk. It is unclear how the streaming large will deal with this, nevertheless it’ll probably materialize both as a set variety of free listening hours monthly or entry to a predetermined variety of titles.
Spotify’s audiobook enterprise is separate from its streaming music effort, which means books are bought a la carte and aren’t a part of a subscription mannequin.
The Swedish streaming service has been engaged on a HiFi providing for a few years. In early 2021, the corporate mentioned the service would debut later that yr and supply CD-quality music. As Spotify was finalizing launch plans, nonetheless, rivals Apple and Amazon threw a monkey wrench into the combo by providing high-fidelity audio to their subscribers at no further value.
Spotify seemingly wished HiFi to drive extra income however with different providers now providing the perk at no cost, that was now not viable. The firm reined in launch plans and went again to the drafting board. How might they cost extra for HiFi and placate traders with out instantly charging for a characteristic that the competitors is giving freely at no cost?
Bloomberg’s report suggests bundling HiFi with restricted audiobook entry could possibly be the reply.
In the US, a single-user Spotify Premium account goes for $9.99 monthly, a two-user account instructions $12.99, and a household plan will set you again $15.99 monthly. Students can rating an account at a reduced price of $4.99 a month. Subscribers eager about HiFi may be prepared to pay a couple of dollars further monthly for the perk however one thing like double in all probability will not fly. As all the time, pricing might be key.
Sources declare Spotify will launch its new tier later this yr in non-US markets first earlier than rolling it out stateside in October.
Image credit score: Headphones by Viktor Forgacs, Writing by Dollar Gill
