Spotify might finally give users access to high-quality, lossless audio with a new “Music Pro” add-on this year, Bloomberg reports.
The music streaming service first announced Spotify Hifi in 2021, with an aim to provide Premium subscribers with access to “CD-quality, lossless audio format.” But it never launched, even though rivals like Apple Music and Amazon Music Unlimited already offered lossless audio.
According to Bloomberg, Spotify now hopes to roll out Spotify Hifi as part of its Music Pro tier later this year. Users will have to pay $5.99 a month on top of their subscription to enjoy all of its features, which include an AI-powered remixing tool to mix songs from different artists and access to special concert tickets (presales, better seats).
These details have yet to be finalized, the report adds. Spotify is currently in talks with promoters and ticket sellers for the ticketing feature. It signed multi-year licensing deals with Warner Music Group (WMG) and Universal Music Group (UMG) in the last couple of months.
Also, Spotify might not launch all of Music Pro’s features at once, the source tells Bloomberg. It will test multiple tools before adding them over the course of a year.
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Spotify’s last Premium subscription hike was in June, when the cost for the individual plan was raised from $10.99 to $11.99. With the new features, Spotify might find a new opportunity to raise prices further and offer additional packages.
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