FILE PHOTO: The first logo will be displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, New York, USA, on 3 May 2018. REUTERS/Brendan McDermid/File Photo
NEW YORK (Reuters) – a Music-Technology SA, it said on Wednesday it will pay for a prominent spot in the music streaming app, the Walt Disney Co., extensive music library with songs such as “Let It Go”, and “A Whole New World.”
The shuttle bus Hub, as the companies are calling the new post, post the soundtracks of Disney’s animated films, Marvel films, Star Wars and other Disney properties in one place. Disney’s catalog, it already has a significant presence on Spotify, with fans spending over $ 2 billion combined minutes thus far, in 2019, streaming, film scores, musicals, and much more.
Disney’s most-streamed song on Spotify is “Let It Go” from “Frozen” soundtrack, followed by “Moana ” s”, “How Far I’ll Go,” and “You’re Welcome.”
Spotify users in the United States, canada, the united kingdom, Ireland, south africa, South Africa, Canada, Australia, and New Zealand will have access to hundreds of the Disney-owned songs.
The two companies did not respond to questions about the financial arrangements behind the deal.
Spotify is the best player in the streaming music subscriptions, has been struggling with the high cost of licensing music from the traditional record labels, and has been branching off into different audio regions, which may prove to be more cost-effective. Spotify said to be the hub, the roll-out of new content, although it does not specify if the videos are to be available.
Spotify is ramping up the podcast deals with it as a way to expand it.
Disney Chief Executive Bob Iger joined the board of Spotify-a competitor of Apple computer, Inc., trying to move out of the second-place position in the music stream.
Report by Arriana McLymore; Editing by Steve Orlofsky