The streaming platform Spotify is rumored to release its most expensive subscription option later this year.
Earlier this week, news started spreading that Spotify, one of the leading music streaming platforms, will introduce its most premium subscription yet. The new tier, “Supremium” is rumored to include high-fidelity audio.
Making it different from the platforms’ current premium option will be its expanded library of audiobooks. Reportedly, “Premium” subscribers will have access to a limited number of hours or books per month. Spotify introduced an audiobook library to its platform a year ago, however, has only offered individual book sales.
According to reports, the “Supremium” Spotify subscription will be available in non-US markets first before rolling out in the United States in October. It’s expected to be the most expensive subscription option the company has released to date. Currently, a premium Spotify account in the United States cost $9.99 per month per individual or $15.99 a month for a family account with six users.
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The news comes as the company continues to compete for market share with competitors such as Amazon Music and Apple Music, which have both increased the prices for their premium individual plans from $9.99 to $10.99 per month, in the United States. In February 2021, Spotify shared its plans to introduce lossless HIFI audio quality, which both major competitors already offer. However, it has yet to be added and sources to Bloomberg hinted it was due to the two competitors releasing the same feature in 2021.
Spotify has yet to officially comment on the reports.
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