Warner Music Group has sold its entire stake in Spotify for $ 126 m and will share $ 126 m with its partners in the form of royalty payments . Warner Music CEO Steve Cooper said Amazon and Apple 's new premium services were good news for its business , as was Facebook 's recognition of the value that music brought to its platform . Spotify is now larger than Warner Music , with 180 million ad - supported active monthly users . The move leaves Universal Music Group as the last major music label with a notable holding in Spotify after Sony sold most of its stake for $ 768 m .
Warner Music Group has sold its entire stake in Spotify for $504m and will share $126m with its artists in the form of royalty payments. Warner Music CEO Steve Cooper said Amazon and YouTube's new premium services were good news for its business, as was Facebook's recognition of the value that music brought to its platform. Spotify is now larger than Apple Music, with 180 million ad-supported active monthly users. The move leaves Universal Music Group as the last major music label with a notable holding in Spotify after Sony sold most of its stake for $768m.