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Apple hires Warner Music veteran for business development at streaming unit

Apple has more than 60 million paid music subscribers to Spotify’s 124 million.
Apple has more than 60 million paid music subscribers to Spotify’s 124 million. (REUTERS)

Apple is seeking to bolster its sales with paid subscriptions to services such as Apple Music, but it trails its top rival Spotify Technology SA Apple has more than 60 million paid music subscribers to Spotify’s 124 million.

Warner Music Group veteran Jeff Bronikowski said has joined Apple Inc as global head of strategic music initiatives, Apple said on Tuesday.

Bronikowski, who shared the news in a LinkedIn post on Monday, did not immediately return a request for comment. Apple declined to comment further.

Apple is seeking to bolster its sales with paid subscriptions to services such as Apple Music, but it trails its top rival Spotify Technology SA. Apple has more than 60 million paid music subscribers to Spotify's 124 million.

Spotify pays $250 million for Ringer in podcasting drive

Spotify Technology SA is paying close to $200 million upfront for the Ringer, the growing online sports and pop-culture outlet, as part of its push into podcasting, according to a person with knowledge of the matter.

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The previously undisclosed price of 180 million euros will be followed by more than $50 million later, said the person, who asked not to be identified because the terms aren't public. Spotify, the world's largest streaming audio service, is expected to detail the costs in a regulatory filing soon.

Spotify has now spent more than $600 million to acquire four companies that can accelerate its podcasting business -- the Ringer, Gimlet Media, Anchor and Parcast. Three of those companies are studios that produce lots of podcasts while the fourth, Anchor, makes tools for podcasters.

(with inputs from Bloomberg)

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