Facebook has reportedly signed a deal with Spotify to bring its music streaming services to its social networking platform.
Sources close to the deal have told Forbes that the new Spotify-Facebook service could be launched as soon as within next two weeks.
The companies have yet to decide whether to call the service ‘Facebook Music’ or ‘Spotify on Facebook’. According to sources, the new music streaming service will be launched in countries where Spotify has a presence, which means the service won’t be available in the US.
The sources also revealed that no money will be changing hands between partners. Facebook will benefit with a dedicated music streaming service, helping it in its quest to become a social entertainment hub.
Spotify on the other hand, will benefit with more exposure for its services. The company charges £10 per month from users, allowing them to stream unlimited music. A free service is also available but users can only stream 10 hours of music per month.
If the service is launched in non-US countries, users will see a Spotify icon on the left side of the news feed. Clicking on the link will install Spotify on their desktops and users will also be able to stream music from within Facebook. A feature will also allow users to listen to the same music simultaneously with their friends on Facebook.