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Spotify to reportedly finally introduce high-fidelity audio

Spotify will reportedly finally release a high-fidelity audio tier for its subscribers.

According to a report from Bloomberg, the streaming platform is set to charge $5 more per month for hi-fi audio. The new price will be added on top of existing premium plans.

Additionally, the new tier will reportedly offer subscribers “new tools for creating playlists and managing their song libraries.”

Though the official release date is unknown, an insider told Bloomberg it is expected to drop “later this year”.

Competing platforms like Apple Music and Amazon Music already have lossless audio integrated into their plans at no extra cost.

Headphones and Spotify logo displayed on a phone screen are seen in this illustration photo (Photo by Jakub Porzycki/NurPhoto via Getty Images)

The family plan will see a rise of $3 at 19.99 per month while Spotify’s student plan will remain at the discounted price of $5.99 a month. These new prices will go in effect for existing Spotify subscribers next month. New subscribers will be charged the new prices immediately.

Speaking to City A.M., a Spotify spokesperson said that the subscription price hike was done “so that we can keep innovating and delivering value to fans, the music industry, and creators on our platform, we occasionally update our prices”.

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