In a virtual event today, Spotify detailed a series of updates and new features coming to the audio platform. One of the most interesting ads is the new “Spotify HiFi” lossless, which will be an additional option for premium subscribers, as the platform seems to increase its leadership over rivals like Apple Music.
Earlier this month, we learned that Spotify’s most recent paid subscriber count reached 155 million, an increase of 24% over the previous year. We saw Apple Music ahead at different points with respect to growth over several quarters, but Spotify still leads as the most popular paid audio service in the world.
In order to be the best audio platform in the world, Spotify held a virtual event “Stream On” today detailing a series of new features, tools and initiatives.
Spotify noted that one of the most requested features by artists and users is the highest quality audio. In response, the platform will launch “Spotify HiFi” in selected markets later this year.
Spotify HiFi will deliver CD-quality music, lossless audio format to your device and Spotify Connect-enabled speakers, meaning fans will be able to experience more depth and clarity while enjoying their favorite tracks.
The platform got Billie Eilish and Finneas to talk a little bit about the importance of high-quality audio:
Spotify did not share how much the new HiFi access will cost, but we were able to confirm with the company that it will be an add-on for Spotify Premium subscribers. We also do not know when it will arrive in “selected markets”, except “later this year”.
Notably, this will put the service ahead of Apple Music, which still doesn’t offer a lossless option like Tidal or Deezer.
The old “Mastered for iTunes” content was updated and renamed to Apple Music as “Digital Masters” in 2019. However, it is still AAC – not without loss and does not fully compete with the 16- and 24-bit FLAC formats offered by others Services.
Spotify also announced a number of other new features and tools for artists and users in the coming months, such as surveys and question and answer functionality, video support for podcasts, a partnership with WordPress to convert text into podcasts and more.
Spotify also noted that its goal is to reach more than a billion new users in the coming days, expanding to 80 new markets in Asia, Africa, Europe, the Caribbean and more.
Check out all the news from Spotify at the Stream On event below:
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