Streaming music platform Spotify is raising money at a valuation of $5.27 billion, according to a report in Swedish financial publication Dagens Industri.
Spotify said it is on pace to pay out more than $1 billion this year to recording artists who stream their music across its platform, with payouts already reaching $500 million during the first six months of 2013.
Google is poised to unveil a subscription-based streaming music service rivaling platforms like Spotify and Pandora.
Twitter officially launched its much anticipated #music discovery and sharing app via Apple's iOS platform and the Web.
By Sandhya Raman The digital music industry, which relies heavily on the mobile channel, is already a fractured and intensely competitive market. There are established players like Apple (...
Subscription-based and free Internet radio services like Pandora and Spotify accounted for 23 percent of average weekly music listening time among U.S. consumers between the ages of 13 and 35 during the fourth quarter of 2012, up from 17 percent in the year-ago period thanks to increasing mobile engagement, according to a new NPD Group report.
Amazon's is the latest digital media giant reportedly considering a streaming music service, following speculation that both Apple and Google are both readying efforts to challenge established players like Spotify, Pandora and Rhapsody.
Spotify is pressing recording industry partners to consider offering consumers new ways to sample its streaming music service, contending that improving the mobile experience will increase interest in paid subscriptions.
If it seems like there are already too many streaming music services to count, just wait until Apple and Google enter the mix. Neither mobile giant has officially confirmed plans to launch a streaming service, but both seem like foregone conclusions to challenge established players like Spotify, Pandora and Rhapsody.
Google is reportedly developing a subscription-based streaming radio service optimized for mobile devices, taking aim at rival efforts from Spotify, Rhapsody and Pandora.