Spotify Deluxe Version Confirmed by CEO

Spotify is set to introduce a higher-tier subscription plan priced between USD17 and USD18 per month, or around PHP1,000.00 that will feature the highly coveted high fidelity (Hi-Fi) audio many users are waiting for. The announcement was made by CEO Daniel Ek during the company’s most recent earnings call.

This move comes amid growing competition in the music streaming industry and as Spotify looks to diversify its revenue streams.

The upcoming deluxe plan will offer enhanced features and higher audio quality compared to the current Premium tier. While specific details about the plan remain scarce, Ek hinted at “more control” and “higher quality across the board” for subscribers.

“It’s probably around a $17 or $18 price point, but sort of a deluxe version of Spotify that has all of the benefits that this normal Spotify version has, but a lot more control, and a lot higher quality across the board,” Ek said of the deluxe version.

The introduction of this premium tier follows years of speculation about a lossless audio option on Spotify as the music streaming giant made the first announcement of lossless audio way back 2021, then went on to delay it after Apple Music offered lossless audio at no cost to subscribers.

Despite the introduction of a higher-tier plan, Spotify will continue to offer its ad-supported free tier, particularly in emerging markets. The company recognizes the different consumption patterns in these regions and plans to invest in marketing and additional perks to attract and retain free users.

Spotify’s decision to introduce a deluxe plan comes as the company reported strong subscriber growth. The platform now boasts 246 million paying subscribers, a 12 percent increase year-over-year. (GFB)