Spotify is preparing to launch a new ‘Deluxe’ subscription tier, priced at around $18 per month, offering hi-fi audio quality and enhanced features. Chief Executive Officer Daniel Ek confirmed this during the company’s Q2 2024 earnings call.

“It’s probably around a $17 or $18 price point, but sort of a deluxe version of Spotify that has all of the benefits that this normal Spotify version has, but a lot more control, a lot higher quality across the board,” Ek said, noting that the plan is still in its “early days.” Currently, Spotify’s Premium plan costs $11.99 per month, The Economic Times reported.

The new tier, previously rumored to be called ‘Supremium,’ is designed for passionate music fans seeking an elevated listening experience. “There’s a good subset of that group of 246 million subscribers that want a much better version of Spotify,” Ek explained. “Those are huge music lovers who are primarily looking for even more flexibility in how they use Spotify and the music capabilities that exist on Spotify.”

Spotify‘s move comes as competitors like Apple Music and Amazon Music already include lossless hi-fi audio in their standard plans at no extra cost. Meanwhile, Spotify plans to charge a premium for this feature. To justify the higher price point, the Deluxe tier might bundle additional perks, such as advanced library management and AI-powered playlists, alongside the lossless audio output.

Ek did not provide a firm timeline for the Deluxe tier launch but hinted at a potential release later this year.