(Hypebot) — Spotify is finally planning to launch a HiFi premium audio tier, but unlike most of its competitors, users will have to pay more to get it.

The new “Supremium” plan will also include more audiobook access and is set to launch first in non-U.S. markets later this year.

A report from Bloomberg said that Spofitfy would launch the new plan in part to increase revenue and appease investors and labels demanding a price increase.

If things go as planned in other markets, the “Supremium” tier will launch in the U.S. in October.

Spotify first promised to launch high-quality audio back in 2021.

Bruce Houghton is the Founder and Editor of Hypebot, a Senior Advisor at Bandsintown, President of the Skyline Artists Agency, and a Berklee College Of Music professor.

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