Spotify Partners With Samsung To Fight Off Apple Music

TheVerge

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Spotify Technology SA has signed a deal with the world’s biggest smartphone maker, Samsung Electronics Co.

The move, seen by many as Spotify’s bid to fight off competition from Apple Music, will see the music streaming service integrated into Samsung phones, Samsung’s smart TVs and speakers.

The company made the at an event in New York on Thursday.

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According to Bloomberg, the deal sent Spotify shares up as much as 5.2 percent to $188 on Thursday, the biggest intraday gain in two weeks. The shares are up more than 40 percent since the company went public.

Spotify has been looking to increase the number of people who use its free service, which funnels customers into the paid version of its app.

The company operates the world’s largest paid music service, but it faces increased competition from Apple Music. Apple said earlier this month that its service has surpassed Spotify in subscribers in select territories.

Apple Music comes installed on the iPhone.

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