Rumor (and more rumor) has turned to apparent fact, as CNBC is reporting that Spotify has raised a new funding round of at least $350-million, led by Goldman Sachs. The funding round closed on a “first close” basis, so new investors may yet join. Continue Reading
Spotify’s ad revenue increased 53% in the first quarter of 2015 compared with the year-ago period, RAIN News has confirmed. The revenue growth corresponds with a 50% audience growth. In the last four months, Spotify has introduced new audience targeting platforms for advertisers. Continue Reading
Spotify announced an executive promotion within its ranks. James Duffet-Smith will now be working as global head of publisher relations. He had been serving as the streaming company’s head of licensing business affairs, where his focus was on global music licensing concerns. Continue Reading
On-demand music service Spotify has announced a new audience segment for advertisers called Playlist Targeting. Brand marketers will be offered a premium opportunity to connect with behavioral audience segments derived from user engagement with Spotify’s 1.5-billion playlists. Spotify exec Brian Benedik explains it to RAIN News. Continue Reading
Spotify has four more lobbying firms now supporting its interests in Washington. The newly registered firms are focused on competition, licensing, and “platform neutrality,” sources told Politico. It also added at least two firms to provide similar services in the EU. It’s likely that this push for representation in D.C. stems from the number of big legal issues that intersect with Spotify’s core business and are currently in discussion on the Hill. Continue Reading
Spotify rolled out a new feature this weekend called Tweet the Beat. It’s a pop-up screen prompting listeners to tweet at an artist about one of their tunes. For now, the feature is only about Rihanna and one of her newest singles, but it’s likely that Spotify is working to bring other performers on board. Continue Reading
Spotify is reportedly working on raising $400 million in funding, unnamed sources told The Wall Street Journal. This funding round values the company at $8.4 billion. Industry leaders have been speculating as to when Spotify may pursue an IPO for a long time, but the streaming service has not given any hint about a plan to sell. Continue Reading
The European Commission, Europe’s main regulatory agency for business competition, has requested information from music labels about their agreements with Apple, according to the Financial Times. The inquiries are related to the planned relaunch of Beats Music this summer. Continue Reading
Spotify has entered into another telecommunications partnership. This one is with Rogers Communications and it brings a free subscription to the streaming service to Fido customers for an impressive 24 months. Spotify has engaged in several deals with telecoms across the globe, partnering with mobile and wireless carriers in France, Australia, and Ireland, but none have offered the subscriptions for as long as two years. Continue Reading
With podcasting top-of-mind in the online audio industry, a potential new player is Spotify, according to unnamed sources reported by Bloomberg Business. Competition with Apple? Catching up to Deezer? Continue Reading
Sony has launched its new music service for PlayStation video game consoles, completing a previously announced integration of Spotify into the gaming console. The so-called PlayStation Music platform is a close collaboration between Sony and Spotify. Continue Reading
Today’s brief news items feature some unexpected combinations. Continue Reading