Spotify will soon launch a new super-premium subscription service called “Music Pro,” aimed at music lovers who want more from their streaming experience. The new service will cost $18 a month, an additional $6 above the current premium plan.
The Music Pro subscription will offer three main features: higher-quality audio, early access to concert tickets, and a new DJ option for streaming music. These features aim to attract “superfans,” who are dedicated listeners that regularly buy concert tickets and merchandise.
Spotify has signed new licensing deals with major music labels Universal Music and Warner Music to include songs from top artists like Kendrick Lamar and Taylor Swift in the Music Pro plan. However, the company has not yet reached a deal with Sony Music, which represents stars like Beyoncé. This could delay the full launch of Music Pro until later this year.
While Spotify’s rivals, Apple Music and Amazon Music, already offer high-quality “lossless” audio in their basic plans, Spotify’s new service will cater to listeners who want even better sound quality. This service was expected to launch earlier but was delayed several times.
Spotify has been growing fast, recently reporting its first full year of profitability after cutting costs and laying off workers. Its stock has nearly tripled in value over the past year, making the company worth more than all three major record labels combined.
The company’s CEO, Daniel Ek, hinted at the new subscription tier during a recent earnings call, saying Spotify is shifting towards more specialized experiences for different listener groups.
The new Music Pro service will also include more professional music videos as Spotify works to compete with YouTube, TikTok, and others in the music video space. Analysts believe this new offering could drive Spotify’s future revenue growth.
However, some experts remain skeptical, suggesting that the “superfan” service may not be as groundbreaking as Spotify hopes. They argue that it could be just another premium tier, similar to mobile carriers’ plans for higher-paying consumers.
