A new report from The Financial Times suggests a major change in the way that Spotify allows users to listen to music. Reportedly, Spotify is nearing a deal with all the major labels from Sony, Warner and Universal, that will make all the top and new releases on the platform available only to paying customers.
The terms of the agreement have not been disclosed to the public yet, but Spotify will reportedly be paying fewer royalties to the labels by restricting top new releases for free users.
This would radically change the way that users use the platform, especially for those who prefer to download music, as opposed to streaming. However, Spotify recently reached a milestone 50 million paid subscribers, which is certainly nothing to scoff at, either.
Not specified in the report was what constitutes a “major” release and what doesn’t.
Keep an eye on Your EDM for further developments on this story.
via Hype Beast