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Yahoo announces global music distribution deal with Spotify

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SAN FRANCISCO, USA: June 26 (Xinhua) — Yahoo and European music streaming service Spotify on Tuesday announced a global content distribution deal to integrate and promote Spotify’s on-demand music service on Yahoo’s media network.

Spotify will first roll out to Yahoo Music, and later will integrate globally across the rest of Yahoo, including its entertainment sites such as Yahoo Movies, the two companies said in a joint press release. Yahoo will also create an application for Spotify’s platform featuring Yahoo’s original music-related entertainment content.

According to the companies’ statistics, Spotify will reach nearly 700 million unique users monthly; and Yahoo’s original entertainment content will reach Spotify’s more than 10 million active users. The two companies disclose no financial terms about the cooperation.

According to technology news site AllThingsD, Yahoo users will see links to Spotify songs and if Spotify gets paid subscribers via a Yahoo referral, Yahoo will get a commission. Advertising revenue will not be shared. Industry watchers said the deal will help Spotify to reach massive audience and is a sign that Yahoo will remain committed to its content services.

Founded in Stockholm, Sweden, Spotify is a music streaming service offering digitally restricted streaming of selected music from major and independent record labels. In July 2011, Spotify launched its service in the United States and an integration with social networks Facebook and Twitter gave it more exposure across Internet. (Xinhua)

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LUKE MULUNDAhttp://Businesstoday.co.ke
Managing Editor, BUSINESS TODAY. Email: [email protected]. ke
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