Spotify weighs $5.99 premium for added features, ticket access, Bloomberg News reports

The company may roll out a new music service with AI-powered features and concert tickets

A screen displays the logo of Spotify on the floor at the New York Stock Exchange, or NYSE, in New York City, US, Dec 4, 2023

Spotify is considering charging up to $5.99 a month on top of existing subscriptions for a new music streaming service that will include higher-quality audio, remixing tools and access to concert tickets, Bloomberg News reported on Friday.

The company might roll out the "Music Pro" tier this year, the report said, citing sources it did not name.

Spotify is still working through the details, and prices for the new service would vary by geography, with the cost lower in less-developed markets, Bloomberg said.

A Spotify spokesperson said by email that the company cannot confirm speculation around the potential details or feature set.

The new service, which would use artificial intelligence for some features, would allow subscribers to mix together songs from different artists, the report said, adding that the company has held preliminary talks with major promoters and ticket sellers.

In the United States, Spotify's largest market by revenue, it charges $11.99 per month for its individual tier, which goes as high as $19.99 for the family plan that can house six members.

Spotify recently signed multi-year deals with Warner Music Group and Universal Music Group for recording and publishing music.

CEO Daniel Ek has said the company would have personalized offerings, including a premium tier called "superfans of music." The Swedish streaming giant forecast 678 million monthly active users for the first quarter, in line with estimates of 679.4 million.