We backed up Spotify (metadata and music files). It’s distributed in bulk torrents (~300TB). It’s the world’s first “preservation archive” for music which is fully open (meaning it can easily be mirrored by anyone with enough disk space), with 86 million music files, representing around 99.6% of listens.
Spotify has a lossless quality option in their apps.
The link says “The quality is the original OGG Vorbis at 160kbit/s”, so I guess that’s what Spotify uses for the “high” desktop/mobile setting described at https://support.spotify.com/us/article/audio-quality/