Spotify decides to launch more expensive subscription plan for users with HiFi audio
The rising music streaming platform Spotify has decided to launch an expensive premium package for the users and the plan will be known as “Supremium” as reported by Bloomberg News. The new option will certainly promise to offer high-fidelity audio to the masses.
The idea for introducing the new plan is being taken up to increase the revenue. As the company is being constantly nudged by investors to increase its cost, as it incurred a massive loss of 156 million euros at the beginning of the year. It is a tough place for the music firm as it facing tremendous pressure from the financers and also trying to hold onto the credible users.
The current plan in India for the individual user is around Rs119 and the family pack is for Rs179 for a month. On the contrary, the plans for the US are much more expensive with the per-person subscription for $9.99 for a month and the family pack for $15.99/month.
The latest option will also provide the users with attractive features such as audiobooks for specific hours per month or particular titles. The CEO Daniel Ek has revealed that they have to do thorough planning to expand the prices and increase subscribers rate. As a result of earning a profit, the company even eliminated 6% of staff in January this year which was then followed by a reduction of 2% earlier this month.