![]() ![]() Spotify is one of the few big streaming platforms that doesn't offer lossless audio, and the move could help it close the gap between its services and rival platforms like Apple Music, Amazon Music HD, Tidal, and Deezer.Īlthough HiFi won't include truly hi-res audio streams like Apple Music and Amazon, CD-quality audio at 1,411kbps will be a big improvement on Spotify's current offering of 320kbps. During its live Spotify Stream On event today, the streaming music company announced that it will launch Spotify HiFi, a new option for its premium subscribers. Spotify HiFi was revealed earlier this year, and will allow you to hear your favorite songs in lossless, CD-quality audio. The tier was announced last February and promised to launch sometime in 2021. ![]() However, the end of the year is fast approaching, and we still don't have a firm release date. Spotify HiFi is the popular music streaming services long-anticipated entry into CD-quality streaming. We've seen screenshots of the Spotify HiFi logo in the app as well as a Spotify HiFi onboarding video leaked by a Redditor.Īccording to a Spotify blog post, the new service will be available "later in 2021" – and it will be available as an upgrade to Premium. Recently, we've seen several signs that Spotify HiFi is close to launch. We've had a number of announcements from Spotify in recent weeks - including the ability to block other users on the platform - but we haven't had the one announcement we've been waiting for: a Spotify HiFi launch date. It sounds as though you'll be able to buy individual audiobooks on Spotify, but we wouldn't be surprised if the company announces a new subscription tier to cater for spoken word content specifically in the next few months. Comments (0) (Image credit: Shutterstock) Spotify's long-awaited HiFi tier. If audiobooks prove as popular as podcasts on Spotify, the acquisition could be very lucrative indeed - the company announced that podcast ad revenue increased by 627% (opens in new tab) year on year in July 2021, with podcast listening increasing by 30%.Īccording to The Verge, Findaway shares in author's royalties, so when a user buys a Findaway-distributed book on Spotify, the music streaming service will make money, and will also take a cut of the revenue. Spotify HiFi won't be with us for a while yet, as company delays its lossless tier roll out. ![]()
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It also serves both premium subscriber acquisition channel and a robust option for users who are unable or unwilling to pay a monthly subscription fee but still want to enjoy access to a wide variety of high-quality audio content. Citigroup cut their price target on shares of Spotify Technology from 150.00 to 145.00 and set a buy rating on the stock in a research note on Thursday, July 28th. The Ad-Supported segment provides users with limited on-demand online access of music and unlimited online access of podcasts on their computers, tablets, and compatible mobile devices. Market capitalization of Spotify (SPOT) Market cap: 15.82 Billion As of October 2022 Spotify has a market cap of 15.82 Billion. ![]() It also offers a music listening experience without commercial breaks. The Premium segment provides subscribers with unlimited online and offline high-quality streaming access of music and podcasts on computers, tablets, and mobile devices, users can connect through speakers, receivers, televisions, cars, game consoles, and smart watches. The company operates through the following segments: Premium and Ad-Supported. What happened Shares of streaming music and podcast company Spotify Technology ( SPOT 0. SPOT ranks lowest in Growth there it ranks in the 7th percentile. Double-digit growth wasnt enough to please investors. The average twelve-month price prediction for Spotify Technology is 181.76 with a high price target of 300.00 and a low price target of 110.00. ![]() The strongest trend for SPOT is in Growth, which has been heading down over the past 179 days. 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