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April 1, 2011 03:10 am GMT
We've been more skeptical than most about Spotify's promises to launch in the US, but it looks like Europe's favourite music service is finally ready to make good on its promise.Deals are in place with the major US record labels and Valley investors are lining up to provide the cash needed to pay for costly music licenses.The catch? We're hearing from multiple sources today that in order to finance the cost of a US launch, Valley investors have demanded the company shut down its European service, effective noon on Friday (GMT). The brand new 'Spotify USA' -- unavailable to users in Europe -- will launch on Monday morning.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/hbFHMfl759s/
Spotify Announcing US Launch; Closing European Service To Fund It
We've been more skeptical than most about Spotify's promises to launch in the US, but it looks like Europe's favourite music service is finally ready to make good on its promise.Deals are in place with the major US record labels and Valley investors are lining up to provide the cash needed to pay for costly music licenses.The catch? We're hearing from multiple sources today that in order to finance the cost of a US launch, Valley investors have demanded the company shut down its European service, effective noon on Friday (GMT). The brand new 'Spotify USA' -- unavailable to users in Europe -- will launch on Monday morning.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/hbFHMfl759s/
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