Spotify will introduce a new plan that will be at least $5 more expensive than the standard plan, but will offer new tools for creating playlists, managing a library of stored songs, and the long-awaited HiFi audio. Bloomberg reports this, citing people familiar with the matter.
The company will introduce the new plan as an add-on for existing users, which means that the transition will not be mandatory and most of the service's listeners will be able to stay on the old plan.
The price of the new plan will vary depending on the basic plan of each user, but on average it will cost about 40% more.
Spotify hopes that the cost of the new plan will help the company generate additional revenue from its existing users, who, by the way, are very loyal and almost never leave the service.
Earlier, it was reported that the company would launch a Music Pro plan, which should offer the same set of benefits as the new plan reported by Bloomberg. In the new report, the publication also mentions the function of generating custom playlists for certain activities, dates, or seasons. The playlists, in particular, will adapt to listeners' habits.
Spotify announced hi-fi audio back in 2021, but the feature has not been released since. At the same time, other streaming services, such as Amazon Music or Apple Music, have already added lossless audio playback support to their basic subscription plans, although this has not resulted in a significant increase in the number of users.