It looks like Spotify is finally gearing up to launch its high-fidelity (HiFi) audio streaming service. According to a recent Bloomberg report, the service, branded as "Music Pro," is expected to debut in 2025.
The HiFi tier will be available as an optional add-on to Spotify's existing Premium plan, costing an additional $6 per month, bringing the total subscription fee to $18 per month in the US. For Indian users, where the Premium plan is priced at Rs 119 per month, but its’ not clear how much extra the HiFi add-on could cost. Some reports suggest that in India it could cost Rs 150 per month.
Unlike Apple Music, which offers HD audio streaming to all subscribers at no extra charge, Spotify's Music Pro subscription requires a separate upgrade for enhanced audio quality. The company aims to incentivise subscriptions by bundling exclusive benefits, including song remixing tools, early access to concert tickets, and special promotional offers.
Spotify has reportedly secured key licensing agreements with Warner Music Group and Universal Music Group, ensuring access to a library of high-quality tracks for the Music Pro service.
The streaming giant originally announced its HiFi audio tier in 2021, but several delays have postponed its release.
The report also suggests that with Music Pro, Spotify could look to sell concert tickets to subscribers. Users could get benefits like better seats or even pre-sales offers.
There are also rumours about Spotify offering an AI-powered remixing feature to users.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
