Over the last few years, streaming music services have kind of taken over the industry. Between services like Groove, Amazon Prime Music, Spotify and more running around $100 per year, it is hard to justify the cost of purchasing music, either on CD or MP3.
The problem with these services is that most of them stream using a fairly lossy format, meaning you're not getting quite the sound quality you may be used to. There have been services that have tried to remedy this scenario, with TIDAL being the most discussed. They have continued to have issues getting people to sign-up for their service, recently selling 33% of the company to Sprint in hopes of gaining traction.
Market leader Spotify may be about to mix things up, however, with a yet-to-be-announced feature that leaked this week. Some people have been invited to join "Spotify Hi-Fi" - Spotify's introduction of "lossless CD quality audio" streaming. Members on Reddit and Twitter have shared images of their invites, with pricing including $5, $7.50 and $10 per month. The variation of prices is likely due to Spotify testing which price tier will attract more customers.
Adding a new, premium feature is a great way for Spotify to increase revenue without having to try and lure customers away from other services. Spotify has not responded positively or negatively to the news, saying only that they test new features often. If the company is working on bringing this feature to market, it is unclear when we might be able to test it out.