Spotify Signs Licensing Deal With Believe for AI Remix Tool

MT newswire2026/10/20 15:06

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11:06 AM EDT, 10/20/2026 (MT Newswires) -- Spotify (SPOT) said Tuesday it has signed a licensing deal with digital music company Believe for its upcoming tool that lets users make AI remixes and covers of songs while paying the artists behind them. The tool will be a paid add-on for Spotify Premium subscribers, and streams of the remixes will generate royalties for participating artists and rights holders, the company said. Participation will be voluntary, with Believe and its TuneCore unit using a two-step consent process in which artists first opt in to AI programs and then decide whether to take part, according to a statement. Shares of Spotify were up 2.3% in Tuesday trading. Price: 530.61, Change: +11.85, Percent Change: +2.28

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Citi analysts pointed out that AI is causing severe polarization in the software industry. Microsoft is experiencing strong revenue growth driven by its Copilot advantage, while companies like Adobe are facing budget pressures. After Salesforce's acquisition of Braze, attention should be paid to organic growth. In an environment of high financing costs, economies of scale will be the key to survival.

智通财经•2026/10/21 05:02