Spotify has become a huge success over here in Europe. With 1 million paid subscribers, and 6 million unpaid, ad-supported users, it’s become the go to place for music lovers on this side of the Atlantic. Essentially you pay around $10 per month, and get access to as much music as you want. You don’t own it, or download it, but you can stream any track from anywhere you can get an internet connection. It’s a fantastic service. It’s almost like Pandora, except you don’t need to create “channels”. You just listen to which ever tracks you fancy, when ever you fancy it. Needless to say, it comes with a really cool iPhone app.
There have been rumors for some time that Spotify would cross the pond, but until now, there’s not been any significant movement. The latest news is that the Swedish-born company has signed a deal with three of the four major music labels. The one which hasn’t signed a deal yet is Warner. Once that last hurdle is negotiated, it’s ready to launch. According to reports, it has raised $100 million in support to launch in the States, and is now worth $1 billion.