FIND EXCLUSIVE JOBS FROM €60,000
Swedish music service Spotify is teaming up with Chinese media conglomerate Tom Group.
| Related news:|
• Spotify overtakes Apple’s iTunes
• Spotify close to $50 million deal
• Record labels part owner of Spotify
• Spotify aims to appear on iPhone
• Swedish crackdown on piracy
Spotify, the digital music service widely tipped as a contestant to the dominance of Apple’s music store iTunes, is teaming up with with Chinese media conglomerate Tom Group in a move to launch the music service in the country, Reuters report.
Tom Group has internet services such as eBay and Skype among its partners in China.
The tie-up will create a localised version of the software.
"Tom will work towards unveiling a localised version of Spotify in Greater China in the near future," a statement said.
China is the world's largest Internet market with 338 million users, Reuters reports, referring to government data.
Spotify is also planning a US roll out, potentially backed up with $50 millions from a group of high-profile investors including Hong Kong billionaire Li Ka-shing's charitable foundation. Tom Group is majority owned by Li.
According to record label executives, Spotify - launched last year – has already become more important than Apple’s music store iTunes.
| • SIGN UP FOR FREE NEWSLETTER • ALL BREAKING NEWS ON TWITTER |
Last Updated (Wednesday, 12 August 2009 14:17)