Spotify is preparing to launch a new subscription tier offering lossless CD-quality audio and now has more than 50 million paid subscribers

Spotify is reportedly testing a new subscription tier called Spotify Hi-Fi that’ll afford lossless CD-quality audio for an additional fee.

The new offering, which appeared recently on Reddit and Twitter, is said to include all of the features of a Spotify Premium account in addition to lossless CD-quality audio. Some screenshots of the offer also mention discounts on limited-edition vinyl records and even a free record for signing up.

Spotify is reportedly asking for an additional $5, $7.50 or $10 per month for the upgrade (likely as part of a market test for pricing). When trying to sign up, however, some report that the service wasn’t available in their area or that they instead received an error message.

Offering a hi-fi listening option would further help Spotify differentiate itself from the sea of other streaming music outfits out there. What’s more, it’d give the company an additional source of revenue which may finally help push it into the land of profitability.

Not everyone would be interested in the offering but for those with higher-end headphones or audio systems that want to take full advantage of them, it may certainly be worth it.

When asked for comment, a Spotify spokesperson told The Verge that they are always testing new products and offers but have no news to share at this time.

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Spotify also recently revealed on Twitter that it has surpassed the 50 million subscriber mark. That’s impressive when you consider the streaming music provider just hit the 30 million member mark a year ago and crossed 40 million paid users in September.

In comparison, Apple said last December that it had 20 million Apple Music subscribers. Apple’s Eddy Cue said in February that Apple Music had well over 20 million users but failed to reveal how many.

In March 2016, Tidal said it has passed the three million subscriber milestone although data obtained by Norwegian newspaper Dagens Næringsliv claims the actual number of subscribers it reported to record labels was only 850,000. Sprint bought 33 percent of Tidal in January.

Spotify said last June that it now has more than 100 million active monthly users but many of those don’t pay for the service and instead use the ad-supported tier. It’s unclear how many total active listeners Spotify has today.

Source: Techspot

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