The new tier will reportedly have its own separate subscription level and unlike the current Spotify Premium tier, the new tier will include expanded access to audiobooks and, as mentioned, access to lossless audio versions of the service’s music library. It is not certain when the company intends to launch the new subscription tier, but it said that it will first be available to non-US markets, with no exact date when the US market will receive the privilege.
Unfortunately, Spotify wasn’t as forthcoming when asked how much the new Hi-Fi subscription would cost, but the general consensus is that the online streaming service will definitely be bumping up the pricing for the new tier. For context, Spotify Premium in Malaysia already costs RM15.90 per month, or RM190.80 annually for access to the service. Daniel Ek, CEO of Spotify, confirms that a price hike will occur and that he felt confident in his company’s ability to raise prices over time. “We have lots of data that backs that up. … When the timing’s right, we will raise [rates], and I think that price increase will go down well because we’re delivering a lot of value for our customers.”
While it can be argued that a Hi-Fi subscription is a move long overdue, there are those among us that still question why it took this long for Spotify to do so, as well as why the extra charge. One of its rivals, Tidal, already offers its users access to Hi-Fi audio by default for RM14.90, and RM29.80 for access to its Hi-Fi Plus package, which offers access to Master-level quality tracks. Then there’s the other Spotify rival, Apple Music. At RM16.90, the fruit-based streaming service already offers tracks with lossless audio for free and its library is virtually on par with the Swedish streaming service’s own. (Source: Bloomberg, Gizmodo)
