It’s great news for Spotify users and the music streaming industry as the firm announces a new HiFi subscription tier for higher quality audio - one of the top requested features from customers.

The news was confirmed during the Spotify Stream On event where the Sweden-born platform said the new option would be available later this year. Spotify HiFi unlocks higher quality music for an enhanced listening experience.

Details are a little vague at the moment as “Premium subscribers in select markets will be able to upgrade their sound quality,” although we assume this will start in major countries such as the UK and the US.

Spotify HiFi has been long overdue as many other rival music streaming services offer an equivalent subscription tier including Tidal, Amazon Music, Qobuz and Deezer. In fact, some go higher than CD quality (16bit/44kHz) with Hi-Res up to 24bit/192kHz.

Previously, the highest quality from Spotify was 320kbps compressed via the Premium subscription, but HiFi takes things to a CD-quality, lossless audio format available on your 'device and Spotify Connect enabled speakers’.

Which speakers will support Spotify HiFi remains to be seen but the firm is “working with some of the world’s biggest speaker manufacturers to make Spotify HiFi accessible to as many fans as possible through Spotify Connect.”

Apart from an exact release date and which countries will get it first, we'll also have to wait a while to find out the Spotify HiFi price. However, you can expect it to be similar to rivals with Deezer HiFi at £14.99 per month and Tidal costing £19.99 per month.

“High quality audio means more info, there are things you will not hear if you don’t have a good sound system. It’s really important just because we make music that [we] want to be heard in the way that it was made,” said Billie Eilish.