Spotify’s Upcoming ‘Supremium’ Tier: Elevating Audio Quality and Beyond
Spotify, the popular streaming service, made an exciting announcement back in 2021 regarding its ongoing efforts to enhance the quality of its music library. In a bid to generate more revenue, the company is now preparing to introduce a new subscription tier known as “Supremium,” as reported by Ashley Carman from Bloomberg.
The forthcoming Supremium plan, expected to be the most expensive option, is likely to include the highly anticipated HiFi feature. It’s worth noting that competitors like Apple Music and Amazon Music already offer HiFi quality at no additional cost. In addition to this audio upgrade, sources familiar with the matter suggest that subscribers will enjoy other perks such as expanded access to audiobooks. This could either be in the form of a set number of free hours per month or a specific selection of titles, with the option to purchase additional ones.
The introduction of this feature is projected to take place in the US market around October, with subsequent launches in other markets. Presently, Spotify users can only purchase audiobooks individually through the app. While the company has yet to comment on these developments, a spokesperson for Spotify declined to provide further details at this time.
Earlier this year, Daniel Ek, the CEO of Spotify, hinted at the possibility of a price increase for the company’s services in 2023. Ek emphasized that the timing of the increase would be carefully chosen, ensuring that customers receive significant value for their money.
During the first quarter of this year, Spotify boasted 515 million monthly active users, with 210 million of them being Premium subscribers—a number that surpassed market expectations. Unlike Apple and Amazon, whose primary focus lies outside the realm of streaming services, companies like Spotify and Netflix face challenges in driving revenue, as their customers tend to be more sensitive to price hikes.
The impact of introducing HiFi quality on Spotify’s subscriber base remains uncertain. For many people, improved audio quality may not make a noticeable difference, particularly as the majority rely on wireless earbuds that are incapable of streaming lossless audio.
The inclusion of audiobooks could potentially entice users to opt for a higher-priced subscription. However, for Spotify to charge an additional fee for such features—some of which are offered for free by competing services—the company would need to provide a more comprehensive range of benefits.
