a job
Nour Photo via Getty Images
Spotify is rumored to be preparing to roll out a new $20 per month tier known as “Supremium,” which will allow listeners to enjoy high-quality music, playlist mixing tools, and access to audiobooks.
Tech sites are abuzz after Chris Messina, the popular blogger credited with inventing the hashtag, wrote a post on Threads that included what appears to be a logo for Spotify’s new service.
According to Messina, the “Supremium” tier will include a personalized “audio capsule” for each user as well as “24-bit lossless audio” — also known as “high definition” or “HiFi.”
It is also said that users who subscribe to the most expensive tier will have the option to listen to 30 hours of audiobooks per month as well as the ability to sort their library by mood, activity, and genre.
Lossless is sound in its purest form.
They are of higher quality than songs generally streamed on Spotify and other services due to the need to compress the files so that they do not require excessive data usage.
Spotify, which initially planned to introduce “HiFi” audio in February 2021, has reportedly delayed the rollout of lossless audio after competitors like Apple Music and Amazon Music began offering the service at no additional charge.
Spotify charges listeners $9.99 per month for its premium tier, while Apple and Amazon have raised prices for their standard tiers to $10.99 per month.
“At Spotify, we are constantly iterating and thinking to improve our product offering and deliver value to users,” a Spotify spokesperson told The Post.
“But we do not comment on speculation about potential new features and do not have anything new to share at this time.”
Earlier this year, it was reported that Spotify was looking to introduce a more expensive tier in order to generate revenue and appease investors who had encouraged management to raise prices.
Technology website The Verge posted a screenshot From the code inside the Spotify app. code appeared first on Reddit.
In late July, Spotify said second-quarter revenue fell short of estimates even though it beat analysts’ expectations for both monthly active users and subscribers.
After laying out plans last year to attract 1 billion users by 2030 and reach $100 billion in revenue annually, Spotify has grown rapidly, but its costly expansion into podcasting and audiobooks has hit its profit margins.
The number of monthly active users rose to 551 million in the second quarter, exceeding Spotify’s guidance and analyst expectations of 526.8 million.
Premium subscribers, which account for most of the company’s revenue, rose 17% to 220 million, beating estimates of 216.6 million, according to IBES data from Refinitiv.
However, quarterly revenue was $3.51 billion, below analyst estimates of $3.53 billion. This was in line with Spotify’s own estimates.
With mail wires
“Writer. Friendly troublemaker. Lifelong food junkie. Professional beer evangelist.”