AM NEWS: Spotify Drops Limits, Lyrics Tumblr Gets $85M, Sean Parker Want EMI, DJ Shadow & More

As they did last week, music on Facebook and the evolution of Spotify are likely to dominate chatter in the music space this week.  This morning, Spotify announced listening limits are being dropped for 6 months on free accounts with a 10 hour cap thereafter. With it came a requirement that new users must have a Facebook account. And our debate over Spotify royalties continues. (Vote) Stay tuned for indie artist Zoe Keating's take.

• Why lyrics are the consumer web’s next big thing, again (VentureBeat)
• Tumblr raised $85 million in a new round of financing.Greylock Partners and Insight Venture Partners along with Virgin chief Richard Branson, Spark Capital and Sequoia. (CNet)
• Napster and Facebook co-founder Sean Parker is cosidering buying EMI (NY Post)

MORE:

• DJ Shadow: The Internet Is Not Your Savior (Wired)
• Vevo, Warner Music Lead YouTube Partner Rankings. (MediaPost)
• Entertainment Industry Now Shaking Down People At $10 Per Infringement (Techdirt)
• Studio on the go puts kids lives into music. (NPR)