Spotify Releases Lossless Audio

Lossless audio is rolling out to Spotify Premium users. Apparently they are using the FLAC lossless audio format instead of developing their own audio codec. The bit depth and sampling rates are 24-bit and 44.1 kHz, respectively. Why on earth didn't they release this feature before? From what I've read, the reasons were economic and had to do with the difficult logistics of integrating lossless audio into their tiered pricing system, especially considering the fact that their competitors have started providing lossless audio as a "no extra cost" option for paid users. It's still baffling to me, but at least it exists now!

Lossless Listening Arrives on Spotify Premium With a Richer, More Detailed Listening Experience — Spotify
Lossless on Spotify Premium is here. Lossless audio has been one of the most anticipated features on Spotify and now, finally, it’s started rolling out to Premium listeners in select markets. Premium subscribers will receive a notification in Spotify once Lossless becomes available to them. Whether you’re diving into a new album or revisiting old…