Spotify is reportedly launching a new, higher-priced tier called Music Pro later this year, adding features such as enhanced audio quality and song editing tools. This upcoming tier will cost $6 more than Spotify Premium and will initially provide basic capabilities with plans to grow its features over time. Record label executives are optimistic about the new plan, which could drive competition among streaming services, thereby increasing revenue for the music industry as a whole.
Spotify is set to launch its new Music Pro tier later this year, which will enhance audio quality and offer unique DJ-like editing tools.
Spotify has secured rights for the new tier from Universal and Warner, hoping to inspire competition and increase revenue for record labels.
Music executives believe Spotify should cost close to $20 a month, like Netflix, if the new tier succeeds.
The Music Pro tier will debut with basic features and expand over time to include more advanced options.
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