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By Raziye Akkoc BRUSSELS, Belgium, March 4, 2024 (AFP) – The EU on Monday hit Apple with a 1.8 billion-euro-fine ($1.9 billion) for violating the bloc’s laws by preventing music streaming services from informing users about subscription options outside of its App Store. The iPhone maker immediately vowed to appeal the first ever antitrust fine slapped on Apple by Brussels, the culmination of a case triggered by a complaint by Swedish music streaming giant Spotify. […]
Music streaming giant Spotify said Monday it will reduce the number of its employees by around 17% in a bid to cut costs amid “dramatically” slower economic growth. Spotify in October posted a rare quarterly operating profit of 32 million euros, compared to a loss of 228 million for the same period a year earlier, on the back of 26% growth in active users for the third quarter. “I realise that for many, a reduction […]
SAN FRANCISCO, United States (AFP) – Apple on Tuesday announced the biggest upgrade to the App Store pricing system since the launch of the shop, allowing developers to charge from 29 cents to $10,000 for their offerings. The enhanced pricing options to be available for all transactions at the App Store by spring of next year were touted along with new capabilities intended to make it easier for those offering their wares to manage sales, returns, […]
STOCKHOLM, Sweden (AFP) — Swedish music streaming giant Spotify on Wednesday reported a tripled net loss in 2020, citing increased operating expenses, even as the number of paying subscribers continued to increase. At the end of 2020, the number of monthly active users was 345 million, a 27-percent increase compared with a year earlier. Paying subscribers, the main source of revenue for the streaming service, stood at 155 million, a 24-percent increase. Spotify, which is […]
NEW YORK, United States (AFP) — As the 2010s winds to a close streaming titan Spotify announced Tuesday that poppy rap sensation Drake is the most globally streamed artist of the decade with more than 28 billion streams. British crooner Ed Sheeran, hip hop warbler Post Malone, pop royalty Ariana Grande and rap iconoclast Eminem rounded out the top five most-streamed artists between 2010 and 2019, Spotify said. Global hit machine Sheeran’s “Shape of You” […]
NEW YORK, United States (AFP) — Major music label Warner said Tuesday it would give back $126 million to artists after it sold its stake in streaming leader Spotify. The Warner Music Group said the share sale from Spotify, which successfully listed on the New York Stock Exchange earlier this year, earned the company $504 million, or $317 million after paying taxes. Announcing its latest earnings, Warner said it would share the spoils of Spotify […]
NEW YORK, United States (AFP) — Internet giants launched an offensive Monday against far-right conspiracy theorist Alex Jones, who is now banned from Apple, Facebook, Spotify and YouTube. The move, described by Jones as a “coordinated communist-style crackdown,” came after months of criticism against Facebook, Twitter and YouTube calling for them to do more to combat disinformation and hate discourse. Jones, whose site InfoWars has accused victims of the 2012 Sandy Hook school shooting of […]
by Shaun Tandon / Ali Bekhtaoui Agence France Presse NEW YORK, United States (AFP) — Spotify soared Tuesday to a value of more than $26 billion in its long-awaited stock debut as the market delivered a ringing endorsement of the future of music streaming. In one of the largest public offerings ever in the tech sector, Spotify on its first day topped the market capitalization of other high-profile recent market entrants, including Twitter, […]
by Gaël Branchereau Agence France-Presse STOCKHOLM, Sweden (AFP) — Spotify may uncontestably be the king of music streaming, but as the Swedish firm prepares for a stock listing, there is still a divide whether its reign is benign or not for artists and the music industry. “We really do believe that we can improve the world, one song at a time,” Spotify’s 35-year-old chief executive and co-founder Daniel Ek said in the documents filed to […]
NEW YORK, United States (AFP) — A music publisher is seeking at least $1.6 billion from Spotify for alleged copyright violations, the latest lawsuit to hit the fast-growing streaming company. Wixen Music Publishing, Inc. — which holds rights to songs of major artists including Neil Young, The Doors, Tom Petty and Santana — charged in a lawsuit that Spotify failed to seek licenses for significant parts of its 30 million-song catalog. “While Spotify has become […]
NEW YORK, United States | AFP) — Apple is in talks to buy the popular song recognition app Shazam as the tech giant tries to compete with streaming leader Spotify, TechCrunch reported Friday. The technology news site, quoting unnamed sources, said that the deal could be announced Monday with financial terms not yet clear. A spokeswoman for Apple declined comment. Since its founding in 1999, Shazam has offered a high-tech solution to listeners’ longtime agony […]
NEW YORK, United States (AFP) — Spotify said Monday that it had 60 million paying subscribers, expanding its lead in the fast-growing world of music streaming. The Swedish company has more than double the base of nearest competitor Apple Music, which in early June said it had 27 million subscribers. Apple Music, however, achieved its growth rapidly as it was launched only two years ago by the tech giant. Spotify — started in 2008 and […]
