Spotify is close to finalizing a deal with record labels that would give it a major head start on Pandora globally, according to several sources. Spotify currently uses free web radio to attract new customers to its paid subscription services in the U.S. and 20 countries.
Spotify also hopes to add new territories and lower its overall payments to labels, according to Bloomberg. Talks are currently underway with music publishers and record companies including Universal, Sony and the Warner Music
A spokesman for Spotify declined to comment.