BusinessLatest From News

European Union hits Apple with music streaming charge in boost for Spotify

EU regulators accused Apple on Friday of distorting competition in the music streaming market, siding with Spotify in a case that could lead to a hefty fine and changes in the iPhone maker’s lucrative business practices. The preliminary findings are the first time Brussels has levelled anti-competitive charges against Apple, although the two sides have had bruising clashes in the past, most notably a multibillion-dollar tax dispute involving Ireland. Apple rebuffed the EU charge.

“Spotify has become the largest music subscription service in the world, and we’re proud of the role we played in that,” it said in a statement.

Spotify, one of Europe’s few global success stories in consumer technology, is the market leader in music streaming with 356 million active users and 158 million paid subscribers.

Source: Business Standard

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button