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(Bloomberg) -- Spotify Technology SA is looking to charge as much as $5.99 a month on top of existing subscriptions for a new super-fan streaming service that will include higher-quality audio, remixing tools and access to concert tickets, people familiar with the matter said.
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The company hopes to roll out the Music Pro tier later this year, said the people, who asked not to be identified because the plans are confidential. The pricing and timeline aren’t set because Spotify is still working through the details and doesn’t have rights from all of the major music companies, they said. Prices for Music Pro will vary by geography, with the cost lower in less-developed markets.
Subscribers will be able to mix together songs from different artists. Some of those features will utilize artificial intelligence, the people said. Spotify is also testing various ways to sell concert tickets, such as giving fans access to presales or better seats. It has held preliminary talks with major promoters and ticket sellers but has yet to finalize its plans.
A Spotify spokesman declined to comment.
Having charged the same price for a large library of music in many major markets for most of its existence, Spotify management sees the opportunity to both raise prices and offer different packages and plans for different kinds of listeners, believing the most-ardent fans will pay more.
The company is developing Music Pro at the same time it has raised prices for existing subscriptions and created a new offering built around audiobooks. Its current US plans range from $5 a month for students to $20 a month for families.
Major music companies are pushing streaming services to charge more for different features as growth in major markets like the US slows. US recorded music sales grew 4% in the first half of last year, the slowest pace in almost a decade.
Spotify had its best year of user growth in 2024 and posted an annual profit for the first time. Most of its new users came from markets in Asia, Latin America and the Middle East, as opposed to more developed markets like North America and Europe.
Streaming services and record labels both see an opportunity to target the most dedicated fans of musicians, consumers who spend on merchandise, concert tickets and fan clubs. While this more expensive offering won’t appeal to all users, the company believes it will attract millions of customers.