According to Bloomberg’s Lucas Shaw, Spotify is in the process of developing a premium version of its music streaming subscription, with Apple potentially following suit.

Here’s what Lucas Shaw has revealed about Spotify’s upcoming plans:

Spotify is working on a new pricing tier that will deliver enhanced audio quality, concert ticket access, and the capability for subscribers to edit tracks. Tentatively branded as Music Pro, this premium package is set to launch later this year with an expected price increase of approximately $6 per month compared to current offerings.

The anticipated subscription rate of around $17 per month is familiar to many Spotify users. The company has aimed to keep pace with Apple Music by introducing a much-awaited Hi-Fi tier that boasts superior audio quality for several years.

On the other hand, Apple Music already provides lossless audio within its standard subscription plan.

As a result, Spotify may need to offer additional features to attract subscribers willing to pay for higher-quality audio.

Integrating concert ticket sales within a music-streaming platform has always seemed like a promising avenue, although the current state of online ticket sales has faced significant challenges for consumers.

The concept of being able to edit tracks adds an intriguing dynamic. Here’s what Lucas Shaw indicated regarding these features:

Music Pro will come equipped with various remixing options that allow users to modify tracks, similar to a DJ’s capabilities. Spotify is also negotiating with concert promoters and ticket vendors to secure ticket allocations, providing users access to presales and premium seating.

And what’s the situation with Apple? As previously noted, Apple Music has consistently provided higher-resolution audio at no additional charge. The service has only undergone one price hike, shifting from $9.99/month to $10.99/month in 2022. Furthermore, Shaw mentions that both Apple and Amazon are exploring ways to introduce pricier tiers for their streaming platforms.

Apple and Amazon have contemplated creating premium tiers for their respective services, although these efforts are in early stages and may not materialize.

This scenario is interesting mainly because it signifies a possible shift in Apple’s current approach. Apple has previously added enhancements like live lyrics, Dolby Atmos, and lossless audio to its singular version of Apple Music. Implementing additional features at a premium rate would mark a departure from this norm and could be appealing to subscribers, depending on the quality and uniqueness of those features.

If Apple could achieve access to music stems for popular tracks, it would significantly enhance applications like GarageBand and Logic. Notably, Apple has offered this type of experience in creative workshops at its retail locations, though it has yet to make these features available in a home-use format.