Tuesday, May 14, 2013

Reuters: Technology News: Google inks music service deals with Sony, Universal: report

Posted by Isabella on 4:27 PM

Reuters: Technology News
Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com
Google inks music service deals with Sony, Universal: report
May 14th 2013, 22:36

  • Tweet
  • Share this
  • Email
  • Print
The Google signage is seen at the company's headquarters in New York January 8, 2013. REUTERS/Andrew Kelly

The Google signage is seen at the company's headquarters in New York January 8, 2013.

Credit: Reuters/Andrew Kelly

SAN FRANCISCO | Tue May 14, 2013 6:36pm EDT

SAN FRANCISCO (Reuters) - Google Inc has signed licensing deals with Universal Music Group and Sony Music Entertainment to launch a subscription music service that would compete with fast-growing start-up Spotify, according to a report on Tuesday in technology blog The Verge.

Google, the world's No. 1 search engine, could unveil the streaming music service at its annual developer conference, which kicks off on Wednesday, according to the report, which cited anonymous sources.

Google plans to create separate music subscription services to its mobile-focused Google Play store and to its YouTube video website, according to The Verge. The deals with Sony Music and Universal, whose catalogs include popular artists such as Rihanna and Bob Dylan, follow reports earlier this year that Google had signed a subscription deal with Warner Music Group.

Music streaming, or playing songs over the Internet, has in recent years begun to come into its own as listeners increasingly choose to stream songs from apps like Pandora or Spotify via their smartphones, rather than buy and store individual tracks.

Apple Inc is talking with music labels about tacking a subscription service option onto iTunes, sources have told Reuters.

Shares of Pandora were down 2.7 percent at $16.30 in after hours trading on Tuesday. Google shares were essentially unchanged at $888.98 in after hours trading.

(Reporting by Alexei Oreskovic; Editing by Eric Beech)

  • Tweet this
  • Link this
  • Share this
  • Digg this
  • Email
  • Reprints
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/

Comments (0)

Be the first to comment on reuters.com.

Add yours using the box above.
You are receiving this email because you subscribed to this feed at blogtrottr.com.

If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

0 comments:

Post a Comment

Subscribe to: Post Comments (Atom)

 
Great HTML Templates from easytemplates.com.