Spotify Strikes Deal with Dubset to Stream DJ Mixes
"This is a major milestone for DJs and music fans all over the world," said Dubset CEO Stephen White.
Photo by Leonardo Augusto Matsuda, via Flickr
Spotify, the streaming music service that allows users to stream albums from major label and obscure artists alike, will soon be hosting DJ mixes and radio sets on its platform.
At the International Music Summit in Ibiza this week, representatives from Spotify and the online DJ livestream site Dubset announced a partnership that would give Dubset's mixes, live sets, and radio broadcasts a permanent home. "This is a major milestone for DJs and music fans all over the world," said Dubset's CEO Stephen White at the summit. "Our technology platform makes it possible for us to identify and pay rights holders in DJ mixes, making this enormously popular music genre available on the world's most popular streaming service for the very first time. We couldn't be more thrilled to be working with the team at Spotify to deliver this content to music fans all over the world."
The partnership will likely quake the competition among streaming music services. Dubset already partnered with Apple Music to bring DJ sets to its site, and Soundcloud, which introduced a subscription service in March, has refuted a claim that it will take down the plethora of DJ mixes that it currently houses. Yet in pushing to identify and compensate even the most obscure artists spun by DJs, Dubset and Spotify are banking on building the most comprehensive streaming library available.
"Our number one job at Spotify is to deliver great music to fans whenever and wherever they want to listen to it." said Stefan Blom, chief strategy officer and chief content officer at Spotify, "This deal with Dubset enables us to serve fans of dance music with the mixes they crave while ensuring that artists, labels and publishers get paid fairly. It's a great day for music fans all over the world."
The deal comes at an interesting point for Spotify, which turns 10 this year. According to Musically, which published a long read on the company's future, Its financial statements reveal that the company underwent a net loss of €173.1 million ($193.51 million). Two of its major label contracts have expired and new ones have yet to be signed. In the face of major competitors, however, Spotify continues to have the highest number of subscribers of any music streaming service, and plans for an IPO are expected sometime this year.