Spotify is soon to be acquired by tech-giant Google – if today’s Wall Street Journal’s news report is anything to go by…
However, Spotify doesn’t come cheap; Google’s forking out a whopping $41.1 billion in equity to secure it (and welcome it into its ever-growing digital family)!
This acquisition will no doubt strengthen Google’s music subscription game and put it in direct competition with Apple Music.
The irony is that this acquisition news broke just after reports surfaced stating that “Apple Music now has more unique users than any other streaming music service”.
Google buying out Spotify will also no doubt boost the upcoming merge of Google Music and YouTube; especially with Alphabet and its Google/YouTube subsidiaries struggles to create a strong, premium music streaming service to rival others.
So, you could say that this acquisition has come at the right time with the streaming-service now reaching its 50 millionth paid subscriber.
It’s still not clear exactly what will happen to Spotify once the acquisition is complete.
Could this be the most expensive “acq-hire”? We think it’s definitely up there! It’s like music to our ears…