Spotify Spotted...in the U.S.

If you had any doubts over the fact that observers have done an about face and have taken a bullish attitude on music subscription services, look no further than Spotify. The yet-to-be-launched-in-the-U.S. service has finally inked two major record company deals in the U.S. In recent weeks, they’ve signed deals with Sony and EMI. Rumors are rampant that they’re closing in on a deal with Universal. It seems that only Warner’s remains on the outside looking in, among the big 4 majors.

The other good news for Spotify <http://paidcontent.org/article/419-is-spotifys-1-billion-value-a-bubble-bellwether/> is that the company is closing in on a new round of financing. Reportedly, they’re raising another $100 million, giving them a market valuation of $1 billion. The fact that most of the labels have signed on (or appear to be about to) and that the VCs are interested are sure signs that, after years of skepticism, many people now see a significant role for cloud-based subscription services in the music ecosystem.