The news was first reported by the Wall Street Journal this morning. It is a clear pointer that Google going to get into competition like Apple Music. Apple Music, right now, has more uique users than any of their competitors. But Spotify is now reaching its 50 millionth paying subscriber.
“We’re thrilled to bring Spotify into our family of music properties,” Google Music executive vice president Nathan Rutherford said.
“Now, we can combine the best of three worlds: Google Music, YouTube Music, and Spotify.”
Investors Goldman Sachs, Kleiner Perkins Caufield & Byers, Northzone Ventures, and billionaires Sean Parker and Li Ka-shing will receive several billion dollars each. As part of the payout, all artists will also receive a special streaming payout of 1-penny per-stream, for a limited 24 hours period.
Spotify CEO Daniel Ek is now one of tech’s most important entrepreneurs and visionaries.
“I’m thrilled by this acquisition and the belief that Google has placed in us,” Ek said in a statement. “While we’ve operated as healthy competitors to this point, I think we always considered joining together. We want to help build the future of music consumption and a place for artists to grow.”
“Napster offered a glimpse into the future of music technology,” Parker said. “Now, eighteen years later, Google is helping us fulfill that vision in the best, most powerful way possible.”
Inside Beyonce's star-studded baby shower
20 YEARS OF PURE LOVE
A Modern Twist.
REBELS WITHOUT A CAUSE
Creative agency Acne crafts a cheeky response ad
Actress Anne Hathaway proved fashion doesn't always have to come at a price
Check out the best celebrity Easter Instagrams
It's that time of the year again when your favorite stars hit the desert for Coachella's two-weekend music festival.
Take a peek inside
"It is time for me to move on”
I NEED HIM IN MY LIFE! LADIES, THIS ONE IS FOR YOU .
PERFECT FOR THIS HOLIDAY SEASON
That's right! Apple has finally launched an Instagram account and it's a must-follow. We have the details!
Do the get another Chance?
Commercializing new technologies and sustainable innovation for the fashion industry
On-demand flying taxi service it claims will be five times faster than a car.
Second industrial revolution is coming!
Roughly $41.1 billion in cash and equity