A number of big earnings calls are happening across this month where tech companies are revealing their plans for the coming year.
Spotify is no different, and during their call last week, CEO Daniel Ek revealed that a more expensive Deluxe tier is coming to the music streaming service this later this year (via Android Authority).
The news isn't exactly suprising, as we've heard rumors of a "Supremium" or Hi-Fi plan going back to 2022. In June, the Supremium rumor popped up again from Bloomberg claiming it was coming soon.
Even with Ek's announcement, it's unclear when the potentially "enhanced" tier will release. In the meantime, Spotify has spent the summer raising prices for the second time this year or dropping features from the Basic plan.
The expected Deluxe tier might be priced around $17 or $18 a month, about $5 more than the current Premium plan on offer.
“It’s probably around a $17 or $18 price point, but sort of a deluxe version of Spotify that has all of the benefits that this normal Spotify version has, but a lot more control, a lot higher quality across the board,” Ek said.
The "higher quality" might refer to the high fidelity feature that is supposedly coming to Spotify though we've been waiting for that feature since at least 2021.
The plan is still in "early days" but Ek apparently believes that it's something that consumers are asking for.
If Spotify does actually release a Hi-Fi-powered Deluxe tier, who will pay for it? Competitors like Amazon and Apple Music already have lossless high fidelity audio for the same price as Spotify's current Premium tier.
The music streamer needs something to make the prospect of a near $20 a month plan worth it to consumers beyond the addition hi-fi audio. At this point, Ek, and Spotify in general, have been very vague about the Deluxe plan and their plans for hi-fi.
Apparently, Ek believes that the Deluxe plan will have a "greater impact [on] the music industry." In the meantime, we'll twiddle our thumbs while we wait for the alleged hi-fi upgrade that will surely someday arrive.
