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YouTube To Launch Music Subscription Service Next Year: Bloomberg

8Dec By No Comments

News

YouTube To Launch Music Subscription Service Next Year: Bloomberg

Alphabet Inc’s YouTube plans to introduce a paid music streaming service in March, Bloomberg reported on Thursday, citing people familiar with the matter. Record label Warner Music Group has already signed on while Sony Music Entertainment, Universal Music Group, and Merlin, a consortium of independent labels, are in talks with the video streaming website, Bloomberg said. The service, internally referred to as Remix according to Bloomberg, will compete with similar offerings from Spotify and Apple Inc. Google, another Alphabet unit, introduced Google Play Music, a streaming service, in 2011. YouTube launched ad-free, subscription-based YouTube Red in 2016 featuring exclusive video content from popular creators such as Lilly Singh Michael Stevens. YouTube was not available for comment...

Tencent Beats Alibaba To $500B Valuation, Overtakes Facebook

21Nov By reutersNo Comments

ANALYSIS

Tencent Beats Alibaba To $500B Valuation, Overtakes Facebook

[dropcap]C[/dropcap]hina’s biggest social network and gaming firm Tencent Holdings, which last week reported forecast-beating quarterly results, is close to making Malaysia the first foreign country to roll out its WeChat ecosystem, an executive told Reuters. Tencent has made a “breakthrough” in gaining an e-payment license in Malaysia for local transactions, and plans a launch early next year, senior vice president S.Y. Lau said in an interview. The move pits Shenzhen-based Tencent against rival Alibaba Group as they scramble for new growth opportunities outside China. Tencent on Tuesday became the first Asian firm to enter the club of companies with a market value of more than $500 billion, surpassing that of Facebook. “Malaysia is actually quite large in the sense that we have ...

Amazon challenges Apple and Spotify with New Music Streaming Service

12Oct By reutersNo Comments

News

Amazon challenges Apple and Spotify with New Music Streaming Service

Amazon.com Inc on Wednesday launched a full-fledged music streaming service with subscriptions as low as $3.99 per month for owners of its Amazon Echo speaker, accelerating the industry trend toward more flexible pricing after years of sticking to $9.99 subscriptions. The new streaming service, called "Amazon Music Unlimited," lets users access a vast catalog of songs on demand, similar to Spotify and Apple Music. Subscriptions to play music on the Echo cost $3.99 per month; for access beyond that device, subscriptions cost $7.99 a month for members of Amazon's Prime shipping and video service and $9.99 for non-members. Amazon will continue to offer Prime members a limited streaming service for free. As it plunges deeper into the crowded streaming field, Amazon is counting on the Ech...

Spotify Raises $1 Billion in Funding: Report

31Mar By PriyankaNo Comments

News

Spotify Raises $1 Billion in Funding: Report

AFP- Music streaming giant Spotify has raised $1 billion (roughly Rs. 6,632 crores) in convertible debt from investors, with strict conditions, the Wall Street Journal reported late Tuesday. Private-equity firm TPG, hedge fund Dragoneer Investment Group and clients of Goldman Sachs are taking part in the deal, the paper said, citing people familiar with the transaction. Convertible debt are bonds that can be exchanged for stock. If Spotify holds a public offering in the next year, TPG and Dragoneer will be able to convert the debt into equity at a 20 percent discount to the listing price, the Journal reported. Spotify will pay annual interest starting at five percent, increasing by one percentage point every six months until the company goes public, or it hits 10 percent, it ad...