Apple face FTC investigation into market dominance

Allegations that Apple is using its iTunes market dominance to put pressure on the major record labels to force the likes of Spotify to abandon their 'freemium' music streaming models to give Apple's Beats service an leg up have resulted in the US Department of Justice interviewing high-level executives at the major labels about Apple's business practices. According to The Verge, the Federal Trade Commission (FTC) is now taking the lead. The New York Post had already claimed that the European Union's Competition Commission is probing the tech firm regards its alleged meddlings in the streaming music space - and it will be interesting to see how the Google owned YouTube, which pays comparatively low royalties, will be considered. The Verge now cites one label source as remarking regards Apple's negotiating tactics: "All the way up to Tim Cook, these guys are cutthroat".

Spotify has reportedly secured another $350 million in its new round of fundraising, new investment that gives the streaming firm an $8 billion valuation.