Spotify and Yahoo are joining forces to try and spread some musical love.
Spotify will become a streaming service on Yahoo at first just on the Yahoo’s music site but eventually across all of Yahoo!
Meanwhile Yahoo will build an app for Spotify integration on Yahoo! entertainment sites will feature Spotify’s innovative play button, enabling Yahoo! users to enjoy music while remaining on Yahoo!.
Here’s the full press release:
YAHOO! AND SPOTIFY ANNOUNCE
GLOBAL CONTENT DISTRIBUTION AND PROMOTION DEAL
Yahoo! To Integrate Spotify’s On Demand Music Service Across Global Media Properties
SUNNYVALE, CA and NEW YORK, NY — June 26, 2012 — Yahoo! (Nasdaq: YHOO), the premier digital media company, and Spotify today announced a global content distribution and promotion agreement that will enable Yahoo! to integrate and promote Spotify’s on demand music service on Yahoo!’s Media Network, which reaches nearly 700 million unique users monthly – over 47 per cent of the total worldwide Internet audience (comScore World Metrix, May 2012). Spotify will initially roll out to Yahoo! Music and later will be contextually integrated globally across the rest of Yahoo!, including its leading entertainment sites, like Yahoo! Movies and omg!. In turn, Yahoo! will create an app for Spotify’s platform featuring Yahoo! original entertainment content, which will reach Spotify’s more than 10 million active users.
“At Spotify we want to light up the Web with music and as Yahoo!’s global music partner we’re able to reach their massive audience” said Daniel Ek, CEO & Founder, Spotify. “We are really excited about the new Yahoo! leadership team and thrilled to partner with them to build great experiences around high quality content.”
“Delivering compelling premium experiences across screens is core to our mission at Yahoo!. Spotify is the leader in the digital music field and together we can provide the “soundtrack” for users around the world,” said Ross Levinsohn, Interim CEO, Yahoo!. “What Daniel and his team are doing is changing an industry, and we’re thrilled to be partnering with them.”
This relationship is designed to drive deeper user engagement for both companies. For Yahoo!, the Spotify integration on Yahoo! entertainment sites will feature Spotify’s innovative play button, enabling Yahoo! users to enjoy music while remaining on Yahoo!. Likewise, the Yahoo! app, due out later this year, will further engage Spotify’s more than 10 million active users with premium original content from artist profiles to musical programs.