That report was based on a Spotify user source who got the option to sign up in what looked like a test of potential pricing, and some Reddit users who did, too. Lossless audio, on the other hand, offers even higher audio quality while making the files manageable enough for streaming consumption.
The leaked promotion was spotted by Reddit users in the USA on 1 March, with some posting screenshots showing the new tier priced at $5 above the current $9.99 a month cost for Spotify Premium (£9.99 in the UK), and others with notifications stating that the upgrade would cost $10 or more. But when users clicked on the link, they were brought to a page that says there was an error or that the service isn't available in that area.
This is Spotify's first user number announcement since the service hit 40 million last September, which means it took the streaming service just five-and-a-half months to gain 10 million subscribers - half a month quicker from when the service went from 30 million to 40 million subscribers.
Would you pay an extra 5 to 10 dollars for lossless audio on Spotify? But with Android devices' USB-C connections and Apple's Lightning headphones capable of offering improved audio playback, it may only be a matter of weeks before we see a new version of the Spotify app.More news: SpaceX will fly two people around the Moon next year
Spotify Premium now offers lossy files up to 320 kpbs which, for many, is quite enough.
While lossless audio may not be a priority for most consumers, audiophiles will certainly appreciate the new feature.
Spotify may launch a Hi-Fi tier. But whether it can truly rival Tidal's 1411Kbps Hi-Fi music quality remains to be heard.
"We are always testing new products and offers but have no news to share at this time", a Spotify spokesperson told The Verge. Feel free to sound off in the comments section below!