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Tag: hifi

  • Spotify to introduce in 2025 the Hi-Fi service

    Spotify to introduce in 2025 the Hi-Fi service

    Just two weeks short of exactly eight (!) years ago, the news broke out that Spotify was about to introduce its Hi-Fi service that offers higher-quality music for an additional fee. Needless to say, none of that happened back in 2017; now, in 2025, it’s once again “Spotify Hi-Fi time”! Let’s hope it’s for real this time.

    The latest bit of info comes straight out of Bloomberg and their report reads that Spotify is preparing to introduce a premium tier called Music Pro, which will offer high-quality audio, but that’s not all. There could be AI-powered remixing tools and exclusive access to concert tickets as well.

    People in Reddit are not exactly feeling like they’ve won the lottery with that last perk, a quick check of the
    r/truespotify Subreddit shows:

    So, the alleged Music Pro service is expected to cost around $5.99 per month on top of existing subscriptions, though final pricing and rollout details are still being determined. The company is in discussions with major music labels to secure rights and is also exploring ways to integrate concert ticket sales, such as presale access or premium seating options.

    While Spotify has yet to make an official announcement, the service is expected to launch later this year. Just don’t make us wait another eight years, OK?

    Right now, Spotify is on the quest to diversify its offerings and generate more revenue from dedicated music fans.

    After years of keeping its pricing relatively stable across major markets, the company now sees an opportunity to introduce new plans tailored to different listener segments. This move aligns with rival trends, as record labels push streaming services to introduce higher-priced tiers to compensate for slowing growth in established markets.

    While Spotify recently raised subscription prices and expanded into audiobooks, Music Pro is designed to cater specifically to superfans willing to pay more for enhanced music experiences.

    Spotify has been working on this premium tier for some time, testing various features and negotiating with labels to secure necessary permissions. Competitors like Apple Music, Amazon Music Unlimited, and Tidal already offer high-fidelity audio, while SoundCloud provides remixing capabilities.

    However, with 675 million users and over 250 million paying subscribers, Spotify remains a major player in the audio streaming industry.

    The company plans to roll out Music Pro gradually, introducing new features over time. While not all users may be interested in the higher-cost service, Spotify believes it will attract millions of passionate music fans who regularly invest in concerts, merchandise, and fan experiences.

  • Apple Music plans on challenging Spotify

    Apple Music plans on challenging Spotify

    Last week, Spotify announced that during the first quarter of this year, the number of its paid subscribers rose 21% to 158 million. During that quarter, Spotify HiFi was unveiled which will give subscribers the option to listen to lossless streaming music in select markets later this year. Spotify says that the feature will allow subscribers to “listen to their favorite songs the way artists intended,” and that this is “consistently one of the most requested new features.”

    Apple recently released iOS 14.6 developer beta 1. Code found in the release mentioned things like “Dolby Atmos,” “Dolby Audio,” and “Lossless.” The references do not appear in iOS 14.5 and in iOS 14.6 beta 2 which means that Apple could be trying to make this a secret.

    Besides Spotify, whose high-quality stream will be available later this year, Amazon Music HD offers a higher-quality stream at 320kbps for $14.99 a month ($12.99 for Prime members), $5 more a month than its standard plan. Tidal has a lossless service priced at $19.99 monthly that streams at 1,411 Kbps.

    Apple could introduce the lossless streaming tier for Apple Music during virtual WWDC 2021 which is scheduled to kick off on June 7th. Additionally, some believe that Apple will announce the new Apple Music tier at the same time that it introduces new AirPods which might include the AirPods 3, the AirPods Pro 2 and two other possible models. However, TF International analyst Ming-Chi Kuo said back in March that the third-generation “earable” won’t see the light of day until the third quarter (July-September) of this year.

    Speaking of AirPods, if you can’t wait for the next generation models to launch, check out the best sales and deals on the most popular TWS earbuds in the world.

  • Spotify announces HiFi subscription tier, coming to Premium users later this year

    Spotify announces HiFi subscription tier, coming to Premium users later this year

    Spotify is bringing new benefits to users who pay for a monthly subscription. Starting later this year, Spotify HiFi will be available to all Premium subscribers who wish to upgrade, regardless of what platform they use to listen to their favorite music.

    Unfortunately, Spotify HiFi will only be available in select markets, at least at launch. Also, it will not be available for free, although no price has been announced yet. We’ll come back to this when Spotify reveals the launch date and price for its new HiFi subscription tier.

    For now, let’s talk about what Spotify HiFi means. Well, just like Tidal’s HiFi service, this is all about sound quality. Spotify HiFi promises to offer music in CD-quality, lossless audio format to your device and speakers compatible with the streaming service. If you’re looking for high-quality music streaming, Spotify HiFi seems like a great choice, assuming the price won’t be too high.

    On a side note, Spotify revealed a brand new feature aimed at artists: Spotify Clips. It works like Snapchat’s Stories and allows artists to use playlists to share their stories with fans. The company announced Spotify Clips will debut on Spotify playlists, featuring artists in short videos today.

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  • JB Hi-Fi New Zealand falters while group grows

    JB Hi-Fi New Zealand falters while group grows

    Electronics retailer JB Hi-Fi has seen shares jump 8.3 percent following a strong first-quarter showing, with total group sales growth of 4.7 percent and comparable sales growth of 3.7 percent.

    However, the business’ New Zealand arm didn’t reach the highs of first quarter FY19, with total and comparable sales growth of 3.8 percent compared to 4 percent total and 9.8 percent comparable in the prior corresponding period.

    The business reaffirmed it would reach its FY20 sales target of A$7.25 billion, including $240 million in New Zealand.

    “As we have said before, retailing is a dynamic and exciting industry and JB Hi-Fi and The Good Guys are market leaders in their respective sectors,” JB Hi-Fi Group chief executive Richard Murray said at the group’s AGM on Thursday.

    “In JB Hi-Fi and The Good Guys, we believe we have two unique and relevant brands, particularly in the eyes of our customers.

    “With a customer-focused business model built on a diverse product offering, deep relationships with our suppliers, a high-quality multichannel offer and exceptional customer service, we are confident we will maintain our market-leading competitive position.”

    The retail group experienced pressure from shareholder groups last week over the implementation of its remuneration report, which the Australian Shareholders’ Association and ISS Governance Services recommending a vote against the report.

    However, the vote passed on Thursday, with 82 percent voting to adopt the revised report and 17 percent voting against – avoiding the 25 percent against vote that would have triggered a first strike against the JB Hi-Fi board.

    Last year, 21 percent of JB Hi-Fi shareholders voted against the report, prompting fears of a potential first strike at this year’s meeting.

  • JB Hi-Fi reports record profits, sales in FY19

    JB Hi-Fi reports record profits, sales in FY19

    JB Hi-Fi has seen record profit and sales for the 2019 financial year, leveraging strong communications, fitness and games hardware sales to deliver growth across all channels of the business.

    Net profit for the year grew 7.1 percent to $249.8 million, compared to the $233.2 million seen last year, while total group sales grew 3.5 percent to $7.1 billion – up from $6.9 billion in FY18.

    JB Hi-Fi Group chief executive Richard Murray said the group was pleased with the result, and that the success of the JB Hi-Fi brand during a difficult second half in Australia proves it has the right business model.

    “It was a solid result for JB Hi-Fi Australia, and a particularly pleasing finish for FY19 with strong sales in the key tax time promotional period,” Murray said.

    Comparable sales grew 2.8 percent, while total sales grew 4.1 percent to $4.73 billion – driven by communications, audio, fitness, games hardware and connected technology.

    However, the company’s media segment underperformed. Sales in the category fell 7.3 percent compared to FY18, with a double-digit decrease in movies and music sales offset by strong growth in the gaming software segment.

    Murray noted during an investor call that while store roll-outs had slowed, physical locations remain key to its growth, even as it expands the online channel, which grew 23 percent in FY19 and now makes up 5.5 percent of total sales.

    The New Zealand business also saw strong growth online, with 38.3 percent growth in online sales to NZ$13.3 million, or 5.6 percent of total sales. Comparable sales grew 8.2 percent, while total sales grew 2 percent to NZ$236.2 million.

    According to Murray, this result is evidence that JB Hi-Fi’s offer is resonating with New Zealand customers, and proves that hiring New Zealand managing director Cherie Kerrison to lead the international business was the right call.

    As for the recently acquired The Good Guys brand, total sales grew 2.2 percent to $2.15 billion, with comparable sales up 0.9 percent, while online sales grew 3.7 percent to $130.9 million.

    “In a competitive environment, we remained focused on sales and market share whilst stabilizing gross margins and continuing to evolve the business,” Murray said.

    JB Hi-Fi Group will continue to invest in The Good Guys brand while seeking to maintain and enhance it, said Murray.

    One such initiative will be to take learnings from JB Hi-Fi’s telecommunications category and use it to launch a similar offering in The Good Guys.

    Looking to the next 12 months, the retail group expects total sales for FY20 to reach $7.25 billion – with JB Hi-Fi Australia to contribute $4.84 billion, JB Hi-Fi New Zealand NZ$240 million, and The Good Guys $2.18 billion.

    Murray notes that while the business continues to see variability in the overall retail channel, JB Hi-Fi enters the new financial year confidence in its ability to execute and grow market share.

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  • JB Hi-Fi sales slow as New Zealand turnaround begins

    JB Hi-Fi sales slow as New Zealand turnaround begins

    JB Hi-Fi has recorded significantly lower sales on the prior corresponding period (pcp) in the first weeks of FY18 trading, outlining an expectation that the market will remain competitive heading into the Christmas trading period.

    In a trading update delivered at its Annual General Meeting on Thursday, JB Hi-Fi advised that year-to-date sales growth to October 22 was 6.2 per cent, down from 14.3 per cent in the pcp.

    Comparable sales growth for JB Hi-Fi was 3.2 per cent, down from 10 per cent in the pcp, while The Good Guys booked 3.1 per cent total sales growth and 2.4 per cent comparable sales growth.

    Sales moderated in September and October due to changes in the timing of “key product releases” from last year, which the company said had elevated sales growth in the pcp.

    “[We] expect the market to remain competitive as retailers drive for market share in the lead up to the key Christmas period,” the company said on Thursday.

    “In JB Hi-Fi and The Good Guys, we believe we have to unique and relevant brands, particularly in the eyes of our customers … we are confident we will maintain our market leading competitive position.”

    JB Hi-Fi Group CEO Richard Murray told investors at the AGM that since Terry Smart had been appointed as managing director of The Good Guys in April a variety of positive changes had been made to the business.

    This has reflected in TGG’s year-to-date trading, which is well up on the 1.3 per cent decline in comparable sales that JB Group booked for the business between November 2016 and June 2017.

    Murray reiterated his confidence in JB’s prospects against incoming competitors like Amazon, saying the strategy that’s been adopted to deal with the changing retail landscape has been extensively researched.

    “We have engaged and researched internationally and have challenged our current and future strategies, particularly as they relate to new competitors,” Murray said.

    “From price intelligence and benchmarking, delivery and fulfilment capability, digital infrastructure to customer experience, we have undertaken detailed analysis and planning and are confident in our go to market plans.”

    Murray also signalled that the first stages on his turnaround of NZ operations, which he called out at the full-year result in August, are underway, with the launch of a new e-commerce website.

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  • JB Hi-Fi, Max Brenner to open at Australia Fair

    JB Hi-Fi, Max Brenner to open at Australia Fair

    Major retail brands JB Hi-Fi and Max Brenner will open new stores at Australia Fair shopping centre on the Gold Coast later this year, as part of the Southport location’s $25 refurb.

    The home entertainment retailer, JB Hi-Fi will be located next to Telstra on the ground floor, and Max Brenner will be near the Scarborough Street entry.

    Ramon Otten, Australia Fair general manager, said the new tenants will enhance the centre’s offering for shoppers.

    “We are thrilled to welcome JB Hi-Fi and Max Brenner – both household brands known and loved by Australian families – to Australia Fair’s retail family, at this very exciting time of our redevelopment,” Otten said.

    “With so many new retailers coming on board, we are in the throes of the evolution of our centre, with major works to both our interior and exterior creating a whole new look and feel for shoppers.”

    Otten said the centre’s redevelopment is on track to be unveiled ahead of the 2018 Commonwealth Games.

    Work is under way for the expansion of Coles into the former outdoor food court, with the new entrance opening early September and the grand unveiling of the new look Coles set to open before Christmas.

    The exterior facelift is creating a contemporary facade for the retail, dining and entertainment complex, with the new structure to feature lighting and fresh signage bearing Australia Fair’s new branding.

    Other new tenants joining Australia Fair’s retail offering who have recently opened at the centre include Colette by Colette Hayman, Ted Ross, U Grill, Joy Stylist and Green Valley Butcher. Brazilian restaurant and bar The Grill House, Vintage Grind, Stella Saigon Street Food, Chikor, Wrap and Roll and LiquorLand are also set to open their doors over the next few months, while several existing traders are relocating or undergoing a fresh fit-out.

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