Jem Aswad Senior Music EditorAs part of a long presentation called “Stream On,” Spotify announced that it will be introducing a hi-fi option later this year, among other benefits for fans and creators.
CEO and cofounder Daniel Ek also said the company paid out $5 billion in royalties in 2020.Ek also mentioned the company be launching in new markets, making itself available to 1 billion new listeners, although details were held until later in the presentation, which was ongoing at the time of this article’s publication.While other streaming services, notably Amazon, Tidal and Qobuz, have long offered excellent hi-fidelity options, Spotify’s profile and playlisting options — not to mention its marketing skill — have helped it to remain.
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