Beyond ridiculous and overpriced and adding AI BS into the mix to justify the price increase.....stupid AF. Apple and others offer flac.....hifi already included in their cost at a much cheaper rate. No one is going to pay. Spotify CEO is just a grubby money horse.
Decades ago people used to ether collect recordings OR listen to Radio stations.
While the recordings they owned required THEM to come up with their own 'mixes', the radio stations would provide free mixes at the cost of having to listen to a bunch of advertisements between tunes.
Fast forward to the modern age and while you can STILL collect recordings, hardly ANYONE listens to Radio anymore and would rather PAY to stream some providers library of music that might be (or not) providing a mix of music.
While it has not happened to Audio YET, watch for all the Audio streaming services to continually increase costs to the point of introducing a 'reduced price tier' that includes - advertising! LOL!!!
Not for me, Hi Res streaming is the most overrated technology since 5G. I prefer my music in physical form, it actually means something to me then and I actually own it.
Spotify CEO talked about a "deluxe" version of Spotify today during an earnings call, which is still in the works. The premium tier with Hi-Fi audio is expected to cost around $18 and offer features like advanced library management and AI-powered playlists. This comes after delays to the initial "Spotify HiFi" plan and a shift in strategy to compete with rivals like Apple Music. While the exact features are unknown, the rollout is still reportedly happening later in 2024.