Rumors have been circulating for years about Spotify launching a more expensive plan than its Premium plan. Sometimes referred to as “supremium,” this plan would offer a higher-quality streaming service. We heard about it last year, and again in April of this year.
And now, that has been officially confirmed by the company during its latest earnings call. Spotify CEO Daniel Ek said the company is planning to introduce such a plan, which is still in its “early days” so far. Here’s Ek’s description of it:
It’s probably going to be around $17 or $18, but it’s kind of a deluxe version of Spotify that has all the features of the regular Spotify version, but with a lot more control, and much higher quality across the board.
In other Spotify news, paying subscribers reached 246 million in the second quarter of this year (April-June), up 12% compared to the second quarter of 2023. The company added 7 million paying subscribers compared to the previous quarter last year, which is 1 million more than guidance, sending Spotify shares up 14% in pre-market trading earlier today.
Total monthly active users are at 626 million, up 14% from the year-ago quarter. Spotify will continue to use ad-supported free plans in developing markets, Ek said on the earnings call, because “engagement looks different in those markets, the channels to get it are different, and the conversion to paid can be a little slower.” Spotify plans to ramp up its marketing efforts in those places and add more perks to the free offering.
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