Spotify Raises Prices on Premium Plans, Announces Plans for High-Fidelity Audio
Music streaming giant Spotify is set to increase the prices of its Premium plans for the first time in a decade. The move, scheduled to take effect soon, aims to bring the platform’s rates in line with that of its competitors.
Starting with the popular Premium Single plan, subscribers will now have to shell out $10.99 per month, up from the previous $9.99. This new pricing tier will align Spotify with its rivals, including Apple Music, Amazon Music Unlimited, YouTube Music, and Tidal.
The price hikes won’t stop there. Premium Duo subscribers will now have to pay $14.99 per month, up from $12.99. Meanwhile, Premium Family and Premium Student plans will see a $1 increase, bringing their prices to $16.99 and $5.99, respectively.
Spotify’s price changes will be implemented across several markets, including the United States, Mexico, Canada, the United Kingdom and Europe, Brazil, and Australia.
To ease the transition, existing subscribers will be notified via email and will have a one-month grace period before the new prices go into effect.
In addition to adjusting its pricing, Spotify is reportedly working on a new high-priced subscription plan called “Supremium.” This plan aims to offer high-fidelity audio, providing users with a superior streaming experience.
While details about Supremium are still under wraps, it is expected to be launched outside the United States in 2023. Sources suggest that the plan will be priced higher than Spotify’s current offerings, appealing to audiophiles and music enthusiasts seeking top-notch sound quality.
Spotify had initially announced plans for high-fidelity audio, dubbed Spotify HiFi, back in February 2021. However, delays have hindered its launch. Once available, Spotify HiFi aims to deliver music in a CD-quality, lossless audio format.
When asked about the rumors surrounding new features, Spotify declined to comment directly. However, the company reaffirmed its commitment to enhancing its product offerings and providing users with the best possible music streaming experience.
As Spotify sets higher prices for its Premium plans, subscribers can expect to enjoy improved audio quality and potentially even more exciting features in the near future.
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