Tech Radar
Spotify makes it clear: it cares extra about video podcasts than launching its long-awaited lossless HiFi tier
Nov
- Spotify remains to be engaged on the hi-fi tier first revealed in 2017
- Spotify is launching ad-free video podcasts in early 2025
- Spotify’s financials counsel it doesn’t want hi-res streaming
In 2017, Spotify was getting ready to launch a hi-fi music tier. And now, seven years later, Spotify is getting ready to launch a hi-fi music tier. We would not advocate holding your breath; in its newest earnings name on Wednesday November 13, Spotify CEO Daniel Ek responded to a query about Spotify Supremium, saying that it was certainly coming with higher sound high quality “and a bunch of different issues. However he would not decide to a timescale – and let’s not overlook, just a few months again he stated “it is early days”.
Though Spotify Hello-Fi is starting to sound so much just like the Tesla Roadster (whose patrons plonked down $38K deposits in 2017 for vehicles that also do not exist), Spotify is enhancing what it provides. It is simply not enhancing the sound high quality.
Whereas Spotify Hello-Fi, Supremium, or no matter it finally ends up being known as, remains to be in limbo, Spotify will launch ad-free video podcasts in January, and the agency notes that there are already 300,000 video podcast reveals on the streaming service.
Opinion: Spotify does not actually care about music
A few years again, a music enterprise knowledgeable instructed me that music corporations did not care about music; they’d promote Brillo pads stuffed with custard if that is the place the cash was. And I’ve lengthy thought the identical about Spotify, whose CEO’s web price (round $6.9 billion) is greater than any musician who’s ever lived (Jay-Z is reportedly price round $2.5 billion; Taylor Swift a comparatively paltry $1.6 billion) and whose service stopped paying royalties to smaller artists earlier this yr.
Spotify’s massive love is not music. It is development. And it sees podcasts because the prime driver of that development. The rationale we do not have Spotify Hello-Fi is as a result of it is no Joe Rogan.
The newest official quarterly financials make Spotify’s place clear. Month-to-month energetic customers are up. Internet subscribers are up. Complete revenues are up 21%, premium revenues are up 24% and promoting income is up 7%. Spotify’s revenue margin is a record-breaking 31.1%; its working earnings is breaking data too.
It is apparent that the explanation Spotify hasn’t launched its hi-fi tier is as a result of, financially talking, it does not must make its music sound higher – it is acquired Spotify Wrapped, Daylist and different fan favorites doing the heavy lifting to speed up development. However I feel it is unhappy that it does not appear to wish to do it both.
You may additionally like
Source link
Copyright 2024 © Skull Sales
