Spotify adds subscribers, still hasn’t added high-res audio

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Spotify connected an iPhone.Phil Nickinson / Digital Trends

Spotify coming announced its third-quarter 2023 earnings, and pinch it came news of an summation successful subscribers twelvemonth complete year, arsenic good arsenic for nan quarter. But still MIA is immoderate benignant of high-resolution audio, contempt caller (and persistent) rumors.

“It was a genuinely stellar quarter,” CEO Daniel Ek said connected nan company’s net call, soon aft it was announced that nan streaming euphony work reached 574 cardinal monthly progressive users, up conscionable 4% for nan quarter, but 26% twelvemonth complete year. Premium subscribers now full 226 million, up 16% twelvemonth complete twelvemonth and 3% for nan quarter.

Spotify besides managed a crisp turnaround successful operating income successful nan 3rd quarter, signaling 32 cardinal euros successful nan achromatic versus nan 247 million-euro nonaccomplishment nan erstwhile quarter. Spotify besides weathered a value summation successful July, which brought its monthly costs successful statement pinch competitors.

That’s each bully news for investors. And Spotify was speedy to talk up improvements for users, including nan Spotify apps themselves, arsenic good arsenic contented for illustration books and podcasts.

Still absent, however, was immoderate talk of nan long-awaited “lossless CD-quality” streaming action Spotify announced successful February 2021. There has been immoderate chatter of precocious of a “Super Premium” tier that could beryllium priced astir $20 a month. But nan third-quarter news came and went without immoderate existent movement.

The deficiency of lossless news isn’t each that astonishing fixed that Spotify evidently hasn’t been successful a hurry to rotation it out. And possibly it doesn’t request to, fixed that it’s larger than nan competitors that do person high-res options — namely Apple Music. (Apple doesn’t merchandise subscriber numbers, but estimates put Apple Music numbers location astir 20% of Spotify.)

Ek did barely touch connected nan thought of a lossless tier successful nan second-quarter net call, further slow-rolling things. “HiFi remains thing that we deliberation has value,” he said. “But it has worth to much aficionados successful nan streaming market. And we’re willing in, obviously, really we tin usage that arsenic 1 instrumentality to, successful nan future, summation our worth moreover further.”

In different words, not yet. If ever.

Editors' Recommendations

  • No, Apple Music’s caller Discovery Station won’t termination Spotify
  • Tidal’s caller hi-res FLAC action couldn’t beryllium much annoying
  • Spotify’s hi-fi lossless tier could get this twelvemonth — arsenic a paid upgrade
  • Tidal CEO says hi-res lossless is coming, raising doubts astir MQA
  • $2,199 Hed Unity Wi-Fi headphones are nan first to connection lossless hi-res audio

Phil Nickinson

Phil spent nan 2000s making newspapers pinch nan Pensacola (Fla.) News Journal, nan 2010s pinch Android Central and past the…

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