I think there's enough analysis now to say it's the only Spotify option that both preserves dynamic range and avoids limiting?
Reduces the risk of limiting. Does not avoid it. See the last two examples in the following list.
Here are the tracks I mentioned earlier, when I described the process of checking the volume normalization effects:
https://www.audiosciencereview.com/...-than-non-normalized.20601/page-3#post-683533
For each track there is a spotify url, some metrics for each captured file and peak and RMS of nulls. Nulls are between no volume normalization and: different modes (album, playlist/shuffle), different levels (Normal, Quiet). Not each mode and each level in every case. When matching the volume, it was always the gain of the louder track that was reduced. The absolute value of "Vol. norm." indicates by how many dB the gain was reduced.
There are also nulls' waveforms here and there, in linear and dB scale. They are thumbnails, so click to enlarge.
Naming should be obvious: none - no volume normalization, albm.normal - Album mode and Normal level, plst.quiet - Playlist mode and Quiet level, etc.
"But how does it sound, you ask?"
"I didn't, but fine, how?"
"Er... well, like anyone on the Internet will tell you, the normalization is bad. Bass gets bloated, mids get muffled, highs get harsh."
"Really?"
"No

, but shush. Just between the two of us, cause you know, I don't want them to revoke my audiophile badge. I did some switching in Audacity between volume matched tracks. When there is no clipping and no limiter then obviously there are no differences. As for the other cases, I
think (think, not claim):
- I couldn't ABX even that massive clipping in Dua Lipa track,
- I could just tell (i.e. without AB switching) if normalization was ON or OFF in the Interstellar track with those couple of seconds before 3:00,
- I could ABX a couple of those tracks with limiter at Normal level, if I knew the places where the limiter is triggered. Could I find those places, I don't know.
- I couldn't just tell (i.e. without AB switching) if normalization was ON or OFF in those same tracks with limiter at Normal level,
- I couldn't ABX, let alone just tell, those tracks with limiter at Quiet level."
Phil Collins / Face Value (2016 Remaster) / 01. In the Air Tonight - 2015 Remaster
url:
open.spotify.com/track/6MjfEIHOMW6MaDO3LpFcmW
Code:
Sample peak RMS Loudness LRA True peak DR Vol. norm.
-0.24 dBFS -19.15 dBFS -15.9 LUFS 14.2 LU -0.18 dBFS DR10 0.0000 dB 1rec.none.flac
-4.10 dBFS -23.01 dBFS -19.8 LUFS 14.2 LU -4.04 dBFS DR10 -3.8606 dB 1rec.albm.normal.flac
-0.98 dBFS -17.86 dBFS -14.6 LUFS 13.5 LU -0.73 dBFS DR9 +1.9307 dB 1rec.plst.normal.flac
-7.31 dBFS -26.22 dBFS -23.0 LUFS 14.2 LU -7.25 dBFS DR10 -7.0693 dB 1rec.plst.quiet.flac
Sample peak, RMS
-90.38 dBFS, -98.77 dBFS - albm.normal.null.flac
-11.74 dBFS, -37.37 dBFS - plst.normal.null.flac
-90.34 dBFS, -98.04 dBFS - plst.quiet.null.flac
albm.normal.null: a negative gain, so no limiting. A perfect null.
plst.normal.null: a positive gain, results in limiting:

A 1.5 second zoom:
plst.quiet.null: a negative gain, so no limiting. A perfect null:
Dire Straits / Brothers In Arms / 01. So Far Away - Full Version
url:
open.spotify.com/track/3QHThjKGMW7y89xIEvB0J4
Code:
Sample peak RMS Loudness LRA True peak DR Vol. norm.
-0.00 dBFS -18.54 dBFS -15.8 LUFS 3.6 LU +1.60 dBFS DR14 0.0000 dB 1rec.none.flac
-1.87 dBFS -20.42 dBFS -17.7 LUFS 3.6 LU -0.28 dBFS DR14 -1.8808 dB 1rec.albm.normal.flac
-0.98 dBFS -16.92 dBFS -14.2 LUFS 3.4 LU +0.67 dBFS DR11 +1.7896 dB 1rec.plst.normal.flac
-7.20 dBFS -25.75 dBFS -23.0 LUFS 3.6 LU -5.61 dBFS DR14 -7.2107 dB 1rec.plst.quiet.flac
Sample peak, RMS
-59.57 dBFS, -98.64 dBFS - albm.normal.null.flac
-11.24 dBFS, -42.55 dBFS - plst.normal.null.flac
-65.05 dBFS, -97.76 dBFS - plst.quiet.null.flac
albm.normal.null: a negative gain, so no limiting. Almost a perfect null. Big sample peak indicates clipping when normalization is disabled. Only 2 samples in this case (only dB scale):

A 0.1 second zoom (only dB scale):
plst.normal.null: a positive gain, results in limiting:
plst.quiet.null: a negative gain, so no limiting. Same as earlier, big sample peak indicates clipping.
Dua Lipa / Physical / 01. Physical
url:
open.spotify.com/track/4U3u4qHEAmm4Jb2J3GAfuV
Code:
Sample peak RMS Loudness LRA True peak DR Vol. norm.
-0.00 dBFS -8.92 dBFS -6.5 LUFS 5.1 LU +0.44 dBFS DR4 0.0000 dB 1rec.none.flac
-6.89 dBFS -16.38 dBFS -14.0 LUFS 5.1 LU -6.82 dBFS DR5 -7.4606 dB 1rec.albm.normal.flac
-15.89 dBFS, -25.38 dBFS -23.0 LUFS 5.1 LU -15.82 dBFS DR5 -16.4607 dB 1rec.albm.quiet.flac
-6.89 dBFS -16.38 dBFS -14.0 LUFS 5.1 LU -6.82 dBFS DR5 -7.4606 dB 1rec.plst.normal.flac
Sample peak, RMS
-30.83 dBFS, -71.52 dBFS - albm.normal.null.flac
-39.83 dBFS, -80.46 dBFS - albm.quiet.null.flac
-30.83 dBFS, -71.52 dBFS - plst.normal.null.flac
-90.31 dBFS, -97.44 dBFS - albm.normal__albm.quiet.null.flac *
It is a single, so obviously the album and the track normalization is the same.
albm.normal.null: a negative gain, so no limiting. So many samples are clipping when normalization is disabled that it elevates RMS anyway:

A 0.5 second zoom:
albm.normal__albm.quiet.null.flac: an extra null, Normal level vs Quiet level. Both have a negative gain, so no limiting. A perfect null.
Due to the amount of clipping when normalization is disabled, both "none vs normal" and "none vs quiet" have elevated RMS. When normalization is enabled, there is no clipping (and in this case also no limiting) so we get a perfect null between the levels.
Hans Zimmer / Interstellar (Original Motion Picture Soundtrack) [Expanded Edition] / 01. Dreaming of the Crash
url:
open.spotify.com/track/2dDuHXxFxLsdYdBBtgjoEi
Code:
Sample peak RMS Loudness LRA True peak DR Vol. norm.
-0.39 dBFS -19.96 dBFS -19.5 LUFS 23.1 LU -0.39 dBFS DR12 0.0000 dB 1rec.none.flac
-4.08 dBFS -23.65 dBFS -23.2 LUFS 23.1 LU -4.08 dBFS DR12 -3.6893 dB 1rec.albm.normal.flac
-0.97 dBFS -14.70 dBFS -14.5 LUFS 23.7 LU -0.97 dBFS DR7 +5.5794 dB 1rec.plst.normal.flac
-3.82 dBFS -23.38 dBFS -23.0 LUFS 23.1 LU -3.81 dBFS DR12 -3.4209 dB 1rec.plst.quiet.flac
Sample peak, RMS
-86.52 dBFS, -98.92 dBFS - albm.normal.null.flac
-6.25 dBFS, -37.63 dBFS - plst.normal.null.flac
-90.34 dBFS, -98.79 dBFS - plst.quiet.null.flac
albm.normal.null: a negative gain (somewhat surprising, but about that another time), so no limiting. A perfect null.
plst.normal.null: a positive gain, results in limiting:
plst.quiet.null: a negative gain, so no limiting. A perfect null.
Paper Motion / Paper Motion / 05. Gloom
url:
open.spotify.com/track/6e2G3jc6uWZHWYXh8lI72D
Code:
Sample peak RMS Loudness LRA True peak DR Vol. norm.
-0.00 dBFS -20.21 dBFS -17.7 LUFS 11.6 LU -0.00 dBFS DR14 0.0000 dB 5rec.none.flac
-0.98 dBFS -18.88 dBFS -16.3 LUFS 11.4 LU -0.43 dBFS DR12 +1.4603 dB 5rec.albm.normal.flac
-7.50 dBFS -27.75 dBFS -25.2 LUFS 11.6 LU -7.50 dBFS DR14 -7.5402 dB 5rec.albm.quiet.flac
-0.97 dBFS -16.98 dBFS -14.4 LUFS 10.9 LU -0.42 dBFS DR10 +3.6852 dB 5rec.plst.normal.flac
Sample peak, RMS
-12.20 dBFS, -46.69 dBFS - albm.normal.null.flac
-53.90 dBFS, -98.52 dBFS - albm.quiet.null.flac
-7.62 dBFS, -38.47 dBFS - plst.normal.null.flac
I wanted a non-classical, non-jazz album, which gets a positive gain in Album mode at Normal level. It wasn't easy to find but here it is. As a bonus, one sample is clipping when normalization is disabled (in a DR14 track).
albm.normal.null: a positive gain, results in limiting:
albm.quiet.null: a negative gain, so no limiting. Almost a perfect null. Big sample peak indicates clipping when normalization is disabled:
plst.normal.null: a positive gain, results in limiting.
Laurence Juber / Guitar Noir / 03. Leaning Post
url:
open.spotify.com/track/0cMVmKNw44xHFnnFv7WfdY
Code:
Sample peak RMS Loudness LRA True peak DR Vol. norm.
-0.53 dBFS -22.95 dBFS -20.8 LUFS 9.8 LU +0.27 dBFS DR15 0.0000 dB 3rec.none.flac
-0.96 dBFS -18.38 dBFS -16.3 LUFS 9.5 LU +0.26 dBFS DR11 +4.7076 dB 3rec.albm.normal.flac
-4.82 dBFS -27.25 dBFS -25.1 LUFS 9.8 LU -4.03 dBFS DR15 -4.2927 dB 3rec.albm.quiet.flac
-2.67 dBFS -25.10 dBFS -23.0 LUFS 9.8 LU -1.88 dBFS DR15 -2.1423 dB 3rec.plst.quiet.flac
Sample peak, RMS
-7.51 dBFS, -47.46 dBFS - albm.normal.null.flac
-87.74 dBFS, -98.89 dBFS - albm.quiet.null.flac
-88.67 dBFS, -98.82 dBFS - plst.quiet.null.flac
Another non-classical, non-jazz album, which gets a positive gain in Album mode at Normal level.
albm.normal.null: a positive gain, results in limiting:
albm.quiet.null: a negative gain, so no limiting. A perfect null.
plst.quiet.null: a negative gain, so no limiting. A perfect null.
Hilary Hahn / Mendelssohn & Shostakovich: Violin Concertos / 08. Violin Concerto No. 1 in A Minor, Op. 77: IV. ...
url:
open.spotify.com/track/6pFZZ1eryonrUb4Ec6IPv3
Code:
Sample peak RMS Loudness LRA True peak DR Vol. norm.
-0.15 dBFS -24.60 dBFS -21.2 LUFS 11.1 LU -0.15 dBFS DR14 0.0000 dB 8rec.none.flac
-0.98 dBFS -18.54 dBFS -15.2 LUFS 10.7 LU -0.78 dBFS DR11 +6.2615 dB 8rec.albm.normal.flac
-2.89 dBFS -27.34 dBFS -24.0 LUFS 11.2 LU -2.89 dBFS DR14 -2.7386 dB 8rec.albm.quiet.flac
-1.89 dBFS -26.35 dBFS -23.0 LUFS 11.2 LU -1.89 dBFS DR14 -1.7421 dB 8rec.plst.quiet.flac
Sample peak, RMS
-5.21 dBFS, -45.85 dBFS - albm.normal.null.flac
-85.07 dBFS, -98.24 dBFS - albm.quiet.null.flac
-88.43 dBFS, -98.52 dBFS - plst.quiet.null.flac
albm.normal.null: a positive gain, results in limiting:
albm.quiet.null: a negative gain, so no limiting. A perfect null.
plst.quiet.null: a negative gain, so no limiting. A perfect null.
Hilary Hahn / Mendelssohn & Shostakovich: Violin Concertos / 02. Violin Concerto in E Minor, Op. 64, MWV O14: II. ...
url:
open.spotify.com/track/2sYGhfLK1Y8uKAywGCKQ7r
Code:
Sample peak RMS Loudness LRA True peak DR Vol. norm.
-2.49 dBFS -29.65 dBFS -26.1 LUFS 16.7 LU -2.48 dBFS DR18 0.0000 dB 2rec.none.flac
-5.23 dBFS -32.39 dBFS -28.8 LUFS 16.7 LU -5.22 dBFS DR18 -2.7390 dB 2rec.albm.quiet.flac
-0.99 dBFS -26.55 dBFS -23.0 LUFS 16.7 LU -0.95 dBFS DR17 +3.1129 dB 2rec.plst.quiet.flac
Sample peak, RMS
-90.31 dBFS, -98.70 dBFS - albm.quiet.null.flac
-17.94 dBFS, -70.27 dBFS - plst.quiet.null.flac
I wanted a track, which triggers the limiter even at Quiet level. Again, not that easy to find but here it is.
albm.quiet.null: a negative gain, so no limiting. A perfect null.
plst.quiet.null: a positive gain, results in limiting:
Flim & The BB's / Tricycle / 02. Cakewalk
url:
open.spotify.com/track/4Ip4FxPoOt8S62pEzOR7A6
Code:
Sample peak RMS Loudness LRA True peak DR Vol. norm.
-0.43 dBFS -28.02 dBFS -25.0 LUFS 13.0 LU -0.43 dBFS DR19 0.0000 dB 2rec.none.flac
-0.98 dBFS -26.21 dBFS -23.2 LUFS 13.0 LU -0.50 dBFS DR18 +1.8129 dB 2rec.albm.quiet.flac
-0.98 dBFS -26.01 dBFS -23.0 LUFS 13.0 LU -0.49 dBFS DR18 +2.0150 dB 2rec.plst.quiet.flac
Sample peak, RMS
-12.87 dBFS, -68.64 dBFS - albm.quiet.null.flac
-12.26 dBFS, -67.60 dBFS - plst.quiet.null.flac
And finally, I wanted a track/album, which triggers the limiter in Album mode at Quiet level.
albm.quiet.null: a positive gain, results in limiting:
plst.quiet.null: a positive gain, results in limiting.
And here we are, 28 attachments later but all together below 300 kB, so I hope Amir won't be angry

.
The End