Business
Supremium: Spotify is launching a new, more expensive tier

Supremium: Spotify is launching a new, more expensive tier

David Crowther

Amped up‍

‍Spotify is reportedly gearing up to introduce a new, more expensive, subscription tier internally dubbed "Supremium", according to recent reports from Bloomberg.

The new offering is expected to include a HiFi feature — which had been delayed following Apple Music and Amazon Music's decision to offer it for free as part of their standard plans — and premium subscribers may also get access to some audiobooks in future as well.

Spotify execs will be hoping that the new features convince more of their free users to convert to paying subscribers. Indeed, while just ~40% of Spotify's user base opts for the paid option, it's that segment that sustains the company, accounting for a staggering 97% of the company’s cumulative gross profit since 2017. The ad-supported option, where users endure 15-30 second advertisements every few songs, hardly contributes to the company’s bottom line, covering its basic costs while acting more like a marketing funnel for the premium service.

‍Podcasting pivot

‍The ad-supported part of Spotify’s business also includes its podcast efforts — which have been scaled back dramatically, with 200 employees from its podcast division being laid off just 2 weeks ago. The company’s strategy around “Spotify Originals” has also shifted; a new show with Trevor Noah will no longer be exclusive to Spotify and the company has also parted ways with Prince Harry and Meghan, following their lucrative podcast deal in 2020, which was valued at $20m.

‍Related chart: have we hit peak podcast?

More Business

See all Business
Hyunsoo Rim
big red button
5/22/26
Kraft Heinz is bringing back the glass ketchup bottle as it leans on sauces for growth

The Pittsburgh-born sauce giant is turning 157 this year.

Oversize Heinz ketchup bottle displayed at Heinz History Center in Pittsburgh
Millie Giles
BED, BREAKFAST, AND BEYOND
5/22/26
Airbnb is expanding its hotel offerings and adding car rentals to its app

As cities crack down on listings, the homestay platform is attempting to become an “everything app” for travel.

View of man talking with couple in car
Millie Giles
BATTLE OF THE BRANDS
5/20/26
Which companies have the best and worst reputations, according to Americans?

The 2026 Axios Harris Poll 100 reputation ranking suggests the US prefers Big Tech to Big Media.

Handshake
Max Knoblauch
5/19/26
Spotify expands its anti-AI verified badges to podcasts

Spotify introduced verified badges for musician profiles in late April.

Spotify Hosts a "Now Playing" Creator Day at its Los Angeles Campus
business
Tom Jones

Demis Hassabis, Google DeepMind’s CEO and founder, was also an early Anthropic investor

A chess prodigy and an actual a knight of the realm in the UK, it’s perhaps no surprise that Demis Hassabis has made some strategic moves about his exposure to AI upside. According to people familiar with the matter, the influential AI architect became an angel investor in Anthropic, currently behind many of the leading AI models, per Arena AI leaderboards.

The Nobel Prize winner’s position in the Claude creator was previously undisclosed and, per the Financial Times, highlights Hassabis’ “growing influence across the AI industry.”

Google, which bought DeepMind, the company that Hassabis cofounded and heads to this day, for a reported ~$400 million in 2014, is also a key Anthropic investor. The tech giant reportedly plans to invest up to $40 billion in the AI company as part of the mutually beneficial relationship the pair have forged, with reports that Anthropic has committed to spending $200 billion in the other direction on Google’s cloud services over the next five years.

I’m playing all sides, so I always come out on top

In addition to his financial support for Anthropic, Hassabis has also invested in a range of AI startups launched by colleagues, such as Inflection AI, a company set up by DeepMind cofounder Mustafa Suleyman (who is now CEO of Microsoft AI), as well as efforts from other collaborators, like David Silver’s Ineffable Intelligence.

Hassabis also emerged as a recurring figure on the fringes of the recent Elon Musk v. Sam Altman trial, cropping up repeatedly in testimonies and court documents and appearing to live, as The Verge put it, “rent-free” in Musk’s head.

Founded in 2021, Anthropic has recently raised funding at a reported $900 billion valuation, sending it soaring ahead of competitor OpenAI.

Google DeepMind’s Demis Hassabis emerges as early Anthropic investor

Google DeepMind’s Demis Hassabis emerges as early Anthropic investor

The Nobel Prize winner’s position in the Claude creator was previously undisclosed and, per the Financial Times, highlights Hassabis’ “growing influence across the AI industry.”

Google, which bought DeepMind, the company that Hassabis cofounded and heads to this day, for a reported ~$400 million in 2014, is also a key Anthropic investor. The tech giant reportedly plans to invest up to $40 billion in the AI company as part of the mutually beneficial relationship the pair have forged, with reports that Anthropic has committed to spending $200 billion in the other direction on Google’s cloud services over the next five years.

I’m playing all sides, so I always come out on top

In addition to his financial support for Anthropic, Hassabis has also invested in a range of AI startups launched by colleagues, such as Inflection AI, a company set up by DeepMind cofounder Mustafa Suleyman (who is now CEO of Microsoft AI), as well as efforts from other collaborators, like David Silver’s Ineffable Intelligence.

Hassabis also emerged as a recurring figure on the fringes of the recent Elon Musk v. Sam Altman trial, cropping up repeatedly in testimonies and court documents and appearing to live, as The Verge put it, “rent-free” in Musk’s head.

Founded in 2021, Anthropic has recently raised funding at a reported $900 billion valuation, sending it soaring ahead of competitor OpenAI.

Latest Stories

Sherwood Media, LLC and Chartr Limited produce fresh and unique perspectives on topical financial news and are fully owned subsidiaries of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Money, LLC, Robinhood U.K. Ltd, Robinhood Derivatives, LLC, Robinhood Gold, LLC, Robinhood Asset Management, LLC, Robinhood Credit, Inc., Robinhood Ventures DE, LLC and, where applicable, its managed investment vehicles.
©2026 Sherwood Media, LLC