On Wednesday, Google introduced its long-anticipated Spotify competitor: Google Play Music All Access, a "uniquely Google approach" to subscription music service.

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Reports emerged on Monday that Spotify may make a move into providing on-demand video to match its on-demand music service, but the company's CEO denies the claims, saying such a move likely won't happen anytime soon.

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Music streaming and subscription service Spotify is said to be preparing to renegotiate its licensing agreements with the recording industry in an effort to possibly extend its free pricing option to mobile devices.

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