 |
| Spotify |
This is reported by the Wall Street Journal Friday according to insiders. According to the newspaper, the investors include Goldman Sachs and the Investment Authority of Abu Dhabi.
It is the seventh time that Spotify collects money from investors. The music streaming service took a fee of more than five hundred million euros.
Spotify is still loss-making, despite having about 15 million paying users and another 45 million users who use the free service only, which is supported by ads.
About 70 percent of the turnover of the company goes to paying royalties to the record companies. The major record companies also have a stake in the company. Universal, Sony and Warner have teamed fifteen percent of Spotify in hands.
Free
Spotify is the final months of pressure from the record labels and artists to restrict its free service to allow more customers to pay for the service. According to Spotify Free users are just required to attract new users.
In addition, growing competition for Swedish music streaming service. Both Google and Apple are working on their own music streaming service. Rapper Jay Z also recently unveiled its own music service, Tidal .
0 comments:
Post a Comment