Music Business Worldwide
February 24, 2021
Daniel Ek speaking at the Stream On online Spotify event, February 22, 2021
The MBW Review is where we aim our microscope towards some of the music biz’s biggest recent goings-on. This time, we juggle some very interesting numbers revealed by Spotify at its ‘Stream On’ event earlier this week. The MBW Review is supported by Instrumental.
The mind-boggling amount of music being uploaded to Spotify continues to get even more mind-boggling.
As part of Spotify’s ‘Stream On’ event on Monday (February 22), the company confirmed that more than 60,000 new tracks are now being ingested by its platform every single day.
A payment plan for the higher quality service is yet to be announced
24.02.21
Spotify is adding a new ‘HiFi’ subscription tier to its platform, offering high-resolution music streaming for the first time.
The company announced the new model at its ‘Stream On’ broadcast, where it said that it will deliver music streaming in CD-quality, lossless audio.
Currently, Spotify’s best audio quality is 320kbps, and higher resolution audio has reportedly been one of the most requested features from customers, according to the company.
The new tier will be coming in “select markets” later this year but it has not yet confirmed a price plan.