Spotify HiFi: The Premium Audio Tier That Could Change Everything
The pricing details for the new tier have not yet been revealed. Unlike Apple and Amazon, who raised their rates to $10.99, Spotify has maintained its Premium plan at $9.99 per month in the US. During a recent earnings call, Spotify CEO Daniel Ek stated that the company strives to strike a balance between subscriber growth and revenue, resulting in pricing variations across regions based on the company’s objectives.
Earlier this month, Spotify announced a two percent reduction in its staff, following a six percent layoff in January. The company continues to explore avenues for growth and diversification to stay competitive in the highly dynamic music streaming market.