Monday, January 25, 2010

Spotify boss Daniel Ek sets out future plans

Music streaming service Spotify has taken off in the past 12 months to become a hit with fans - seven million of whom have signed up in six European countries - and be touted by some as the future of the music industry. Of those seven million, about 95% are using the free service, which is largely funded by ads playing between songs. Some 250,000 have signed up to the premium service, which costs £9.99 a month in the UK, and lets fans listen on mobile devices, with no ads and better sound quality. Spotify founder Daniel Ek claims this is "the first time the number of subscribers has grown this dramatically, probably in the history of subscription". But is it enough to make the business work and pay an reasonable rate to artists, some of whom have publicly complained about the amount they receive? And when will the long-awaited US launch happen?
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