Spotify has kept its Premium plan at 9.99/month in the US, unlike Apple and Amazon, which raised their rates to 10.99. Milestone Alert!Livemint tops charts as the fastest growing news website in the world □ Click here to know more. Rumors about a Spotify HiFi tier have been around since at least 2017. Moreover, the company allowed notable podcast deals to expire and is currently exploring options to sublease portions of its New York City office space. This included a 6% reduction in staff in January, followed by an additional 2% reduction earlier this month. In its pursuit of attaining profitability, the company has been actively implementing cost-saving measures throughout this year. During its live Spotify Stream On event today, the streaming music company announced that it will launch Spotify HiFi, a new option for. “In some markets, we’re mostly focused on growth." Spotify will add a lossless hi-fi option later this year. This is almost double the 10.99/month Premium price. ![]() "It’s something that we’re doing, and we’re looking at it as a balanced portfolio approach, where in some markets we’re selectively increasing prices because we’re in a more mature place," he said. How Much Will Spotify HiFi Cost The rumored price for Spotify HiFi is 19.99/month. In 2022, the company implemented price hikes in over 40 markets as part of its strategic approach.Īlso read: Spotify tests YouTube like 'Your Offline Mix' feature Is it different? Know it all. The music streaming platform is making its premium section more attractive with enhanced access to audiobooks either by way of a specific number of free hours every month or a specific number of titles.ĭuring a financial conference call earlier this year, CEO Daniel Ek expressed that the company carefully manages the relationship between adjusting pricing and striving for subscriber expansion. The plans in the US are much more expensive with individual plans priced at $9.99 per month, while a family account at $15.99 a month. Currently, in India, the monthly individual plans for Spotify are priced at ₹119/month while the family plan is priced at 179/month.
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