Spotify Technology has acquired podcasting companies Gimlet Media and Anchor FM, a declaration that their specialty is the next big area of growth for the world’s largest paid music service.
Paid music streaming looks set to overtake free services for the first time later this year, as more people opt to pay for the likes of Spotify and Apple Music.
Artists and record companies lose about R39-billion in revenue annually because small business owners typically stream music from personal accounts rather than a commercial-use licence.
Sirius XM Holdings has agreed to acquire Pandora Media in a $3.5-billion deal, helping the satellite-radio company controlled by billionaire John Malone expand into online music.
The Spotify app will be available when customers set up their new Samsung phones, a deal that could boost the music streaming service’s user base.
Spotify Technology gained more subscribers than expected, but it wasn’t enough for investors who are worried about competition from Apple and Amazon.com.
Chinese Internet giant Tencent, in which South Africa’s Naspers has a 31.2% stake, is planning to spin off its online music entertainment business and list its shares in the US through a public offering, the company