Spotify Signs Deal With IODA, Gets Two Million Tracks

Online music startup Spotify and digital distribution firm, Independent Online Distribution Alliance, have announced that they have signed an agreement that will see the Swedish company add two million tracks to its streaming service.

IODA will bring in its war chest tracks from over 50 countries and covering a wide spectrum of styles including rock, electronic, hip-hop, metal, punk, indie, world, latin, jazz and classical.

Amongst the artists represented by IODA are the Prodigy, Burial, Bob Marley & The Wailers (yep, THAT Bob Markey), Bashy, Frank Black, Vieux Farka Toure, Broken Social Scene, Easy Star All Stars, Aventura and Stephen Fry (yep, THAT Stephen Fry).

Spotify CEO Daniel Ek commented on the release saying that “One of the challenges all music services face is providing a wide range of music for users of all conceivable tastes. We’ve worked hard to add classical, punk and indie content from different sources and this deal with IODA is another leap forward in our mission to provide users with the biggest, most diverse musical catalogue on the planet.”

The deal is set to boost Spotify's track count from 6 million to more than 8 million. In comparison Apple's iTunes stores has more than 10 million songs worldwide (excluding another one million podcasts) while Amazon music store has nearly six million tracks.

Spotify is also planning a paid-for premium mobile version of its service for later this year and is expected to launch a US version over the next few weeks.

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Our Comments

Spotify is growing bigger by the hour. However, the big issue, that still remains is the fact that it hasn't been able to monetise effectively its HUGE user base. Giving away free things always worked - ask Kazaa, Youtube and thepiratebay, however, growing fast and making money do not always go hand in hand.

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