There have been rumors for years that Spotify is going to introduce an even more expensive plan than its Premium subscription. This is sometimes called the “supremium,” a plan that would introduce higher quality streaming. We have heard about it last yearAnd again this april.
Now, it’s been officially confirmed by the company during its latest earnings call. Spotify CEO Daniel Ek said the company is planning to offer such a plan, which is still in the “early days” right now. Here’s how Ek describes it:
It probably costs like $17 or $18, but it’s kind of a deluxe version of Spotify with all the benefits of the regular Spotify version, but with a lot more control and a lot higher quality.
In other Spotify-related news, the company reached 246 million paying subscribers in the second quarter of this year (April to June), which is up 12% compared to the second quarter of 2023. The company added 7 million paying subscribers compared to the same quarter a year ago, which was 1 million above guidance, and that resulted in a 14% rise in Spotify shares in pre-market trading earlier today.
Total monthly active users now stand at 626 million, up 14% from the year-ago quarter. Ek said during the earnings call that Spotify will continue to roll out free, ad-supported plans in developing markets because “engagement looks different in these markets, as do the channels to acquire them, and conversion to payment can be a little slower.” Spotify plans to increase its marketing efforts in those places and add more perks to the free offering.