Unless you're Spotify Premium user, you may be out of luck for new releases in the next coming weeks. According to a report taken from The Financial Times, the streaming service is close to finalizing a deal with all of the major labels. Allegedly they are in talk with Sony, Warner, and Universal, that will make all of the top and newest releases on the platform available only to the paying customers. The agreement and terms have yet to be disclosed to the public but Spotify will reportedly be paying fewer royalties to the labels by restricting top new releases for free users.
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As it stands, Spotify is currently leading in the music streaming market and they recently reached a benchmark of 50 million paid subscribers back in early March. Their competitors like TIDAL and Apple Music do not offer free music at all, although they still provide users with temporary free trials. We will be sure to keep you updated as the story unfolds.
What are your opinions on this bold move? Feel free to let us know and make sure you keep up to date with all of the hottest in electronic music with us over at EDM Sauce!