Sony, Universal Introduce Cut-Rate Music Streaming Service in U.K.

Two major record labels are rolling out a low-priced music streaming service in the United Kingdom, a rare foray by record companies directly into the field and another sign the industry is finally moving toward more flexible pricing.

Now That’s What I Call Music, a joint venture between Universal Music Group and Sony Music Entertainment that releases a popular series of compilation albums, is finalizing a streaming app called NOW Music+ that will offer playlists of hit songs for 4.99 pounds ($6.62) a month, or 5.99 pounds if purchased in Apple’s App Store, people familiar with the matter said.

Source: Fortune

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