After years of delays, it seems that Spotify is finally getting closer to launching the high-quality music service promised in 2021. According to a Bloomberg report, the company is expected to launch a new package later this year called "Music Pro," which will support lossless music streaming – but not for free. According to the report, Spotify will impose an additional charge of $5 to $6 per month on top of the regular premium package.
Unlike Apple Music, which has been offering its subscribers lossless audio streaming at no extra charge since 2021, Spotify will try to justify the higher price by adding additional features. Along with the improved sound quality, the Music Pro package may also include tools for editing and mixing songs, concert ticket sales with discounts and early access, and possibly even exclusive content for subscribers.
To ensure the future of the new service, Spotify recently signed long-term licensing agreements with major record labels Warner Music Group and Universal Music Group, which may grant it access to exclusive content. According to industry sources, the new service may also include exclusive content for "superfans," such as early listens, deluxe album versions, and the opportunity to participate in special events with artists.
Although the company has not yet announced an official launch date, it is expected that Spotify plans to launch the new service later this year.