Spotify is reportedly considering introducing a new music streaming service known as "Music Pro," which could come at an additional charge of up to $5.99 per month on top of existing subscriptions. This new tier would feature higher-quality audio, remixing tools, and access to concert tickets. The company is exploring the possibility of launching this service sometime this year, with pricing varying based on location. Spotify mentioned that details are still being worked out and declined to confirm any specific features.
The proposed service is expected to include artificial intelligence-powered functions, enabling subscribers to mix tracks from various artists. Talks have allegedly taken place with major concert promoters and ticket vendors. In the U.S., Spotify currently offers its individual tier at $11.99 per month, while the family plan accommodating up to six members is priced at $19.99 monthly.
Spotify has recently secured agreements with Warner Music Group and Universal Music Group for music recording and publishing. CEO Daniel Ek has hinted at personalized service options, including a premium tier for dedicated music enthusiasts. The company's projected revenue for the first quarter stands at 678 million, aligning closely with estimates of 679.4 million.