It looks like Spotify may soon deliver on its promise of a HiFi tier offering

Spotify may finally be making good on its promise to deliver a high-fidelity audio experience, according to recent reports. After years of anticipation and speculation, a Bloomberg insider has shed light on the company's plans for this premium tier, suggesting it will be offered as an add-on to existing subscriptions for an additional $5 per month.

This news comes on the heels of Spotify's recent price hikes, which saw the individual plan increase to $10.99 per month. With the HiFi add-on, users could potentially be paying $15.99 per month for access to higher quality audio. This is a more reasonable price point than some had anticipated, with speculation previously suggesting a potential cost of around $20. It's possible that the recent price increase was a strategic move to make the HiFi tier seem more palatable to consumers.

In addition to enhanced audio quality, the new tier is rumored to include new playlist creation features. Users will reportedly be able to generate custom playlists based on specific dates, events, or activities, and the algorithm will even attempt to predict user preferences and create playlists accordingly.