Spotify announced its plans to launch a new high-end subscription service called Spotify HiFi, along with other new features and updates, including new content offers and features for creators.

The company said Spotify HiFi will be launched by the end of the year for Spotify Premium subscribers in selected global markets, allowing them to listen to music in CD and lossless audio format.

Spotify said that streaming high quality music has always been one of the most requested features by users and Spotify Hifi is a precise response and focuses on the expectations of a loyal but equally demanding clientele.

In addition, the streaming company has made it clear that Spotify HiFi will work on all devices, including Spotify Connect enabled speakers.

Spotify is also working with some of the world’s largest loudspeaker manufacturers to make the HiFi service accessible to as many users as possible.

It is not yet clear what the price of the new HiFi service will be, however it is clear that the price will be higher than that of the Premium subscription that it is alongside; indeed HiFi will be proposed as an add-on to Premium itself.

The company also pointed out that it has added 76000 artists to the playlists for the first time, and that it has highlighted 175 emerging artists through its Radar program, which offers editorial and marketing support.

In addition, Spotify highlighted the way several artists are using more recent tools like Enhanced Album and its Stories feature.

Spotify Canvas, loop images that accompany a track, is now available for all Spotify artists.

The popular audio streaming service further broadens its horizons: Spotify has revealed that, in the coming days, it will expand into new markets that will allow it to reach more than a billion people around the world.

There are 85 new markets that will be opened in Asia, Africa, the Caribbean, Europe and Latin America.

As for research and development, Spotify has talked about plans to improve the suggestions and discovery of podcasts through new features and improvements to its algorithms and underlying technology.

A feature will help identify podcasts by category without needing to know the actual name of the show or episode. For example, users could type \ kitchen } into the search bar and find podcasts that match such data. This function is currently being tested in the United States and will be implemented in several locations this year.

On its app for creating podcasts, Anchor, Spotify said that it is collaborating with WordPress to turn text into audio, add videos to their podcasts and access new interactive features such as surveys and questions and answers to add the

Spotify also provided details today on how it intends to monetize its investments in podcasts.

The company said it is launching a new advertising market for audio, Spotify Audience Network, which will allow advertisers to reach audiences through Spotify’s original and exclusive audio, as well as podcasts via Megaphone and tool

Spotify also plans to offer podcasts on its self-service advertising platform, Spotify Ad Studio, starting with Spotify Originals and Exclusives in the United States, in a beta test phase.

Currently, Spotify Ad Studio is used by advertisers in 22 markets to reach listeners with both audio and video advertising.

Although not providing precise figures, the company claimed that this is the fastest growing purchasing channel.

The Swedish company also talked about how its recent acquisition of Megaphone would enable it to enhance its technology of streaming ad placement, launched at the beginning of 2020, to publishers as well as their original and exclusive audio programs. To date, this technology is available in the United States, Canada, Germany and the United Kingdom and will expand to other new markets in 2021.

Leave a Reply

Your email address will not be published.

You May Also Like