DIKSIA.COM - STOCKHOLM – Swedish music streaming platform, Spotify, is set to launch the “Supremium” subscription package, expected to encompass high-fidelity audio.
Spotify has not provided further details regarding the subscription cost of the “Supremium” package.
However, sources familiar with the plan suggest that the “Supremium” subscription will be slightly more expensive than the current premium package.
As a reciprocal gesture, Spotify will offer broader access to audiobooks, either through a number of free hours per month or a selection of specific titles to “Supremium” users.
In the US market, Spotify sets the price for individual premium subscriptions at $9.99 or approximately Rp 150,000 per month.
Meanwhile, the premium family subscription package for six users is priced at $15.99 or approximately Rp 240,000 per month.
200 Employees Laid Off
Earlier this month, Spotify announced the layoff of approximately 2% of its workforce, affecting around 200 employees.
As reported by Reuters, the downsizing primarily impacted employees within Spotify's podcast division.
“This is a difficult decision, but we need to restructure our strategy to achieve profitability,” said Sahar Elhabashi, Head of Spotify's podcast business unit.
Spotify itself has invested heavily in building its podcast business in recent years, hoping that the higher engagement levels offered by the format would attract more advertisers.
However, this strategy has led to increased operational costs for the company, which grew at twice the rate of its revenue last year.