Tidal and Qobuz have done well penetrating the audiophile community around the globe, but Spotify is the King Kong of streaming. The announcement, however, sent shockwaves through the world of high-end audio and for good reason. Contrary to some media reports, Spotify HiFi will not be offering (unless something changes) hi-res streaming with the new tier only Qobuz and Tidal currently offer 24-bit/96kHz or higher resolution versions of music on their respective platforms.

Spotify unveiled plans for Spotify HiFi a new tier of lossless streaming on the platform designed to offer CD-quality sound. And subscribe to Fast Company Daily, our LinkedIn newsletter.Unexpected news rocked the audio world on Monday.

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