There’s lots of chatter online about a report claiming Spotify is now “the No. 2 revenue source for the major music labels” by Business Insider. A strange thing, because a.) it’s based on a single unnamed “source close to the company”, and b.) this has been the case in Europe for some time now. If the US is following suit that’s not a big surprise, but the key point is how fast Spotify is catching up to iTunes, which BI’s source suggests is still “way up here, and everyone else is way down here”.

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