Spotify’s CEO has hinted at a brand new deluxe tier with greater high quality, however it’s going to price much more than what you’re paying now.
Throughout Spotify’s earnings name on July 23, CEO Daniel Ek made it clear that the corporate is engaged on a premium-than-ever tier. Ek didn’t reveal the launch timeline for the brand new tier, saying it’s within the “early days” proper now.
“It’s most likely round a $17 or $18 worth level, however form of a deluxe model of Spotify that has the entire advantages that this regular Spotify model has, however much more management, rather a lot greater high quality throughout the board,” Ek mentioned, in response to The Hollywood Reporter.
Spotify Premium prices $11.99 a month, whereas the Spotify Duo is $16.99 a month. The Household tier prices $19.99 a month and helps a number of customers.
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Ek didn’t reveal what high-quality options ought to we anticipate from the approaching tier. Nevertheless, a leak on Reddit revealed a possible new tier goes to launch quickly with a hi-res audio characteristic generally known as Spotify Lossless.
The brand new tier may simply work for the streaming big. Even after elevating costs twice this 12 months, the corporate has seen spectacular progress. It reached 246 million paying subscribers within the second quarter of 2024, up 12 % year-over-year, in response to particulars shared within the second quarter’s earnings name.
The entire variety of paid subscribers jumped by seven million, beating the forecast by a million. Spotify’s shares had been up 14 % in pre-market buying and selling on Tuesday. The corporate’s month-to-month energetic customers grew 14 % year-over-year to 626 million, however that missed the sooner goal of 631 million.
This pattern means that Spotify clients don’t concern excessive costs, however, should you’re something like us, you’ll be afraid of shedding all your valuable playlists.
