Spotify today announced plans to introduce a new "HiFi" premium tier later this year, which will provide higher-quality lossless audio.

Streaming music services like Tidal, Deezer, and Amazon Music have offered lossless audio options but to date, Spotify and Apple Music have not provided higher quality streaming options.

Spotify is ‌Apple Music‌'s main competitor, so with Spotify planning a HiFi music option, Apple could be planning to also offer higher quality streaming in an effort to remain competitive.

A lossless audio tier would also pair well with Apple's high-end AirPods Max headphones that were released in late 2020.