On Twitter, Spotify announced plans to launch Spotify HiFi, a new premium tier with higher-quality lossless audio, later this year. According to the company, the subscription will offer CD-quality music in a lossless format that will let Spotify users “experience more depth and clarity while enjoying their favorite tracks.” Spotify HiFi is considered an add-on to its regular Premium account.

The streaming platform has released a video featuring Billie Eilish and Finneas, in which they talk about the importance of listening to lossless music. According to them, they work a lot on the details in their songs and would like fans to be able to appreciate their work.

Spotify has not disclosed any technical details yet, but it is known that the company has already tested higher quality streaming in the past, and is now planning to launch this option more widely. Currently, the basic subscription plan gives users access to audio in the format of 320 kbps, and CD-quality will allow users to listen to music at 1411.2 kbps. Spotify also said high-quality music streaming has been one of the users' most-requested features.

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Spotify plans to launch its premium tier add-on in select markets later this year, but the price of the new lossless streaming option is still unknown. You can already listen to lossless music on Amazon Music (priced at $14.99 per month, $12.99 for Prime subscribers), Tidal ($19.99 per month), and Deezer ($14.99 per month), but Apple Music doesn't provide this option yet.

As part of Spotify's Stream On event, the company also said it plans to expand to over 80 new markets in Latin America, Europe, Africa, and Asia, potentially reaching more than 1 billion new customers.