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Spotify Paying Music Labels $2B Over Two Years

  • Re/code, Thursday, June 15, 2017 12:34 PM
Over the next two years, Spotify plans to pay record labels more than $2 billion in minimum payments, Recode reports, citing fresh financial filings. Notes Recode: “Spotify doesn’t spell out who that money is going to … But people familiar with the company confirm it is talking about two deals it has recently signed with Universal Music Group … and Merlin.” Meanwhile, “Spotify’s revenue grew more than 50 percent, to $3.3 billion last year.”

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