Spotify, which has nearly double the subscribers of its next largest competitor, Apple Music, now only needs to hash out a deal with Warner Music Group before it has the investor confidence to go public.
July 11, 2017
‘Sony Music Entertainment reached a licensing deal with Spotify this week, according to Billboard, in a deal that may set up the streaming service to go public.
The particulars of the agreement are unclear. However, Sony is the second major label to forge a new licensing deal with the popular streaming platform this year. (Universal Music Group announced a global, multiyear agreement with Spotify in April.) That puts additional pressure on Warner Music Group, the lone holdout remaining in the so-called “Big Three,” to make its own deal with Spotify.’