Spotify plans to introduce that feature in the US in October, after first launching in markets abroad.
Dubbed “Supremium” internally, according to people familiar with the strategy, the new tier will be Spotify’s most expensive plan and likely offer a HiFi feature the company first announced it was working on in 2021. Spotify delayed that product’s rollout after two of its competitors, Apple Music and Amazon Music, began offering the feature for free as part of their standard plans. The new tier will launch this year in non-US markets first.
“At Spotify, we are constantly iterating and ideating to improve our product offering and offer value to users,” a company spokesperson wrote in an emailed statement."But we don’t comment on speculation around possible new features and do not have anything new to share at this time.”These changes might be enough to drive new revenue and maintain interest in a stock that has doubled so far this year to US$159.99 per share.
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