Spotify :: U.S.A

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“Spotify, the popular European digital music service, is “a few weeks away” from inking a deal for U.S. rights to songs from Universal Music Group, the world’s largest music company, according to people familiar with the talks.

But the London-based startup, which was valued at up to $1 billion this week by investors according to reports, could end up launching without Warner Music Group, the No.3 music label group, one person said.”

But executives at both Universal Music and Warner Music have expressed concern that offering free music on Spotify could cannibalize sales at services like Apple iTunes Music Store or harm competing paid music subscription services like Rhapsody and MOG.

Source :: (Reuters)