Report: Record Labels Pushing For Sale Of Spotify



Digital Music News reporter, Paul Resnikoff, is making some claims based on information from sources inside and outside the music industry that point to Spotify being sold. According to his article, the music industry, Warner Music Group, Sony Music Entertainment, and Universal Music Group. Have a 20% stake in Spotify which they took as a form of payment rather than licensing fees. It’s these groups that are seeking to push the sale of Spotify, which they estimate to be valued at $10 billion. With Apple buying Beats streaming service it sounds as if the industry moguls think a sale of Spotify could get them a big payday and they could still license music to whomever they sell it off to.

One label attorney, who spoke on the condition of anonymity, pointed to massive telecommunications and mobile companies as targeted buyers.  “The Verizons, the NTT DoCoMos, the Oranges, that group,” the source noted.  “Spotify is a nice package for customers.”

I usually don’t dabble in rumors but this sounds as if it could be feasible. I could see Verizon picking up Spotify and offering their customers a streaming music service as part of their cellular package. But the question is, who’s going to pony up $10 billion for the service?  There’s a lot of variables here and this is pretty much speculation even though he points to sources he claims are in the industry and in the know. It’s always hard to make a claim with shaky info. We won’t know anything for sure until official announcements or if we see some pawns being moved. What do you think about this? Do you think Spotify could be sold? Let us know in the comments below or on Google+, Facebook and Twitter. Links to our social media pages are to the left of your screen. Head over to the source link for more of their coverage.

Source: Digital Music News 

Last Updated on November 27, 2018.


P.F. Chang’s Confirms Credit And Debit Card Breach

Apple Issues Recall For Defective 5W European USB Adapters


Comments are closed.

Latest Articles

Share via
Copy link
Powered by Social Snap