Music streaming platform Spotify is set to introduce a new expensive plan for its users later this year, as reported by Bloomberg News.
The streaming giant is reported to be an add-on for existing users and is likely to cost up to $5 more per month. The plan will be for users who wish to access better audio and fresh tools for creating playlists and managing song libraries, as per the report.
It is important to note that Spotify has not made any official statement on this new plan. If true, this would come about three years after Spotify announced the HiFi audio feature to let premium subscribers in select markets. However, the feature rollout was reportedly delayed. So one might wonder if this plan is now coming back but as an optional subscription plan.
All this comes when Spotify has been on bad terms with its users globally especially after the company hiked its existing subscription prices in countries like Australia, the UK and more in April this year.
Spotify’s CEO, Daniel Ek, has also been under fire in recent weeks following his comments about about the cost of making content being “close to zero” which rubbed many people the wrong way.
Despite all the drama, the company has still been growing globally with its premium subscriber count rising by 14% to 239 million in Q1 2024 from a year earlier. The streaming giant is projected to have about 631 million for the second quarter.
