Looks like we’re going to have to start shelling out for Spotify soon.
According to SPIN, Spotify is currently working on implementing a major shift in its service in an attempt to better its standing with music label companies as it prepares for its IPO, through which it will offer a portion of its stock to the public.
While no specific album titles, musicians’ names or dates were mentioned in the report about Spotify’s potential user restrictions, word has it that the music streaming website is currently in talks with Universal, Sony, and Warner Brothers – the three major labels that own the rights to a significant portion of Spotify’s library.
It’s not hard to imagine that a significant number of major labels and musicians will be interested in putting some of the hottest albums, latest releases, and popular tracks behind a paywall – a policy Spotify hasn’t yet imposed on its users.
Not a good move from a company that is interested in rivaling other notable music streaming websites like SoundCloud and Apple Music.
On the plus side, these changes might see the return of Taylor Swift to Spotify. The “Blank Space” star famously pulled a chunk of her music from Spotify back in 2014 following her concerns surrounding music royalties.