Spotify's Highly-Anticipated Hi-Fi Plan Is Called 'Supremium', Here's How Much It Will Cost
Portfolio Pulse from Rounak Jain
Spotify Technology SA (NYSE:SPOT) is rumored to launch a super-premium plan called 'Supremium', aimed at music lovers and audiophiles, costing $19.99 per month. This move is seen as Spotify's bid to rival the high-quality audio services provided by Apple Inc. (NASDAQ:AAPL). The plan will allow subscribers to stream 24-bit lossless audio and up to 30 hours of monthly audiobook streaming. The exact launch date remains undisclosed, but a rollout is expected by year-end.
October 06, 2023 | 10:54 am
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NEGATIVE IMPACT
Spotify's rumored 'Supremium' plan is seen as a direct challenge to Apple's high-quality audio services, potentially impacting Apple's market share in the music streaming industry.
If Spotify's 'Supremium' plan successfully attracts users away from Apple Music, it could negatively impact Apple's revenues from its music streaming service and potentially affect its stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Spotify's rumored 'Supremium' plan could increase its competitiveness against Apple and diversify its user base, potentially boosting its stock price.
The introduction of a super-premium plan could attract more users to Spotify, especially audiophiles and book listeners. This could increase Spotify's revenues and potentially boost its stock price.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100