Spotify and Deezer: new capital raised

According to our sources, Deezer has today entered into an agreement to raise 6 million euros in capital and Spotify 20 million pounds, from Wellington Partners.

Enough to give a bit of breathing space to these two leading European music content providers, whose accounts have been hit by miniumum guarantees per title played now paid to the major labels.

In the United States, where the organisation SoundExchange has revised downwards the new royalty rates that it is hoping to impose on webcasters, Pandora has justed limited to 40 the number of songs non-subscribers can listen to in a row.