In the world of music streaming, Spotify has long been a benchmark, leading with a vast library and interesting features. However, their latest announcement at the recent shareholders meeting has left many with mixed feelings. The good news is that, according to Spotify CEO Daniel Ek, the company is still working on its highly anticipated Hi-Fi support, a project first announced in early 2021, which is still in its “early days”. The bad news? The price of Spotify could skyrocket.
High-quality audio yes, but at an even higher price
According to EK, Spotify will launch an ultra-premium level. This “deluxe” version aims to be an enhanced version of the current service “with more control and higher quality in all aspects”, although at a considerably higher cost. The expected price would be around $18 per month, approximately $5 more than the current premium fee.
This move may seem like a natural evolution in the service offering, but it raises an inevitable question: what about the price increase? The direct competitor, Apple Music, has been offering lossless audio and spatial audio with Dolby Atmos since June 2021, and it does so at no additional cost.
With Apple Music costing $10.99 per month, Spotify’s decision to charge extra for these enhancements could be a significant point of friction for its subscribers. While YouTube Music costs $11.99 per month, the premium plan of Disney+ costs $11.99 per month, and Amazon Prime, which gives us access to Prime Video and Amazon Music, costs $14.99 per month, the price of Spotify Deluxe is considerably high.
For now, we will have to wait for an official announcement, but with an increasing offer in the music streaming market, raising the price for features that other services offer for free can be a risky decision. We will see how the news unfolds, but for now, we are in between bad and good news for Spotify.