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Report: Record Labels Pushing For Sale Of Spotify

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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.

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