Spotify Becomes Second Largest Income Source for Record LabelsJune 28th, 2012 ⋅ News ⋅ by Ryan ⋅ 375 Views
The rise of the streaming services continues. According to various reports, Spotify has become the second largest source of revenue for all major record labels with Apple’s iTunes still remaining on top. With over 23 million people using the Swedish music service on a monthly basis, industry insiders expect Apple to release a streaming service of their own to compete. Its biggest advantage would be its compatibility to iTunes and their iOS systems, making it easily available to millions of people. Interesting times ahead.