Spotify gets fresh money
The streaming service Spotify could convince apparently more investors and get a new cash injection of $ 400 million. The music service Spotify is repeated according to the Wall Street Journal a huge financial injection of $400 million. among investors, among which is Goldman Sachs Group and an investment group from Abu Dabi. Total of the Swedish technology company is valued at about $ 8 billion. Major labels such as Sony, Warner Music and Vivendi, which hold 15 percent in Spotify, pushing the company to attract more paying customers. Spotify has sorely needed the money: the business model is almost 70 percent of the revenue to be passed to the rights holders of the songs. In January, the company had about 45 million non-paying users, financed by advertising claims. About 15 million users pay $ 9.99 for the ad-free version, however, monthly. In the competitive business of streaming Spotify plays currently still at the front, but is soon some competition in the House. So Apple wants to extend the purchased service beats the iTunes platform and introduce internationally in the next few months. So far, beats music only in the United States is available. With tidal another Spotify competitor is also the Rapper Jay Z together with other artists – Coldplay, Madonna, Kanye West and Rihanna about Daft Punk and Alicia Keys wants to build up to usher, Nicki Minaj or Arcade Fire and of course Beyoncé -. Tidal is significantly more expensive than Spotify and has no ad-supported free version.