Spotify, the loss-making music streaming service, has signed a long-term licensing deal with Universal Music Group (UMG), which will put some new albums behind a temporary paywall.
"Starting today, Universal artists can choose to release new albums on premium only for two weeks, offering subscribers an earlier chance to explore the complete creative work, while the singles are available across Spotify for all our listeners to enjoy", Mr Daniel Ek, chief executive and co-founder of Spotify, said in a statement.
Under the new deal, Spotify, unlike its industry rivals, will get first dibs on music from some of the world's most popular artists. And as streaming became the dominant means of music consumption, UMG, like other labels, needed the service to convert more users of its controversial free tier into the subscribers that are fueling the recovery of the recorded-music business.
However, the move would allow Spotify to save on the pricey underwriting fees associated with an IPO, said WSJ sources.
In exchange, Spotify is getting a concession of its own: a reduction in royalty rates.
A normal IPO involves a company issuing shares of stock. And UMG, which accounted for 35.7 percent of the US recorded-music market in the first quarter of 2017, according to Nielsen Music, often sets the pattern for the structure of digital deals.
Spotify, which a year ago issued a 1 billion United States dollar convertible bond (£801 million), was publicly valued at 8.5 billion U.S. dollars (£6.8 billion) in 2015.
For Spotify, the deal removes a major obstacle to going public.
The ability to limit music to Spotify's paid tier may no longer be as valuable as it would have been a year ago, however.
Artist managers argue that they need to know more detail about the deals done between the labels and the streaming services, so that they can properly audit the streaming royalties their artists receive.
As leaders in the black community, they were very vocal about the changes needed for us to attain equal rights as USA citizens. His speech at Riverside raises: What are we going to do with what he said today? Perhaps a new spirit is rising among us.
That plan was meant to cut harmful carbon emissions by replacing coal-fired power plants with renewable energy sources. The order also seeks to relax other emissions standards for new coal power plants and natural gas operations.
After the Benghazi massacre, which left four Americans, including a US ambassador, dead, Rice was paraded around the TV shows. How does incidental collection occur? The reports were likely based on routine surveillance of foreign officials.
The remains of the second person discovered about 20 miles away from Kansas City have not yet been identified, police said. Almost 10 years earlier, Yust had been seen with Kopetsky multiple times in the months leading up to her disappearance.
Johnson takes another shot at the Ultimate Fighting Championship ( UFC ) light heavyweight gold against Daniel Cormier. Thirty-eight-year-old Cormier came out that contest victorious, defeating Johnson via third round submission.
Proposition 2, an increase to the use tax paid by businesses by half a cent lost with 30,603 "no" votes to 27,363 "yes" votes. Four cities will ultimately be selected for expansion, with the first two set to be announced before the end of 2017.
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The video equates distracted driving and our dependency on our phones as a digital addiction, often with deadly consequences. Anything that takes your eyes off the road, hands off the wheel, or mind off the task of driving is a hazard.
As fighting with ISIL rages in west Mosul , suicide attack on security checkpoint south of Iraqi capital also wounds 60. Mr Guterres said he would "focus on the dire humanitarian situation on the ground".
As awesome as that duo was in the 1970s, they have both agreed the greatest Knick of all-time is none other than Patrick Ewing . And he wanted a chance to show that his work ethic as a coach, just like his work ethic as a player, would lead him to success .
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In the Asian region, Japan's Nikkei ended 1.40 per cent lower, while Hong Kong's Hang Seng shed 0.52 per cent. In contrast, the BSE market breadth was marginally bullish - with 1,476 advances and 1,403 declines.
Betty Cockrum calls Friday's decision "an incredibly strong ruling " that protects IN women's constitutional right to an abortion. A federal judge has blocked a law in IN that forces women to undergo an ultrasound at least 18 hours before having an abortion.
The polarization between the major parties in Washington , D.C., has remained intense through President Donald Trump's election. Conservative advocacy groups separately have pursued a multimillion-dollar campaign backing Gorsuch.
Another key indicator that can help investors determine if a stock might be a quality investment is the Return on Equity or ROE. Maximum and minimum EPS estimate for the current quarter is projected at $0 and $0, respectively, according to 1 analysts.
It's the second train derailment in as many weeks and today, the state agency was unable to commit to a timeline for fix . Passengers on the train told NBC they felt a slight jolt, but no crash just before the train pulled into Penn Station.
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Critics of ObamaCare argue that consumers are stuck with a system that is forcing prices up, and reducing options. About one-third of Gila County residents rely on AHCCCS for their health care coverage.
The smartphone is priced at Rs 11,999 and will be exclusively available on Amazon India starting midnight (11:59:59 PM) today. Moto G comes with one Button NAV mode which allows customers to navigate the interface with swipes on the fingerprint scanner.