Spotify is reportedly preparing to launch a high-fidelity streaming plan, known internally as “Supremium,” per a report in Bloomberg. This move aims to generate more revenue and address investor demands for higher prices as the audio streamer faces budget shortfalls and layoffs.
The launch was delayed in 2021 when competitors like Apple Music and Amazon Music started offering lossless audio as part of their standard plans. Additionally, Spotify may enhance its Premium offering by providing access to audiobooks, possibly through a monthly allotment or with the option to purchase more.
The specifics of the audio quality and pricing for the new plan have not been disclosed. Spotify has traditionally kept its Premium plan at $9.99 per month in the US, with Apple and Amazon priced a dollar higher.
