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Spotify calls the tune in online music wars

Anglo-swedish digital jukebox Spotify has been valued at an eye-watering $1bn after sticking its neck out for a new round of funding.

What a coup for a company which seemed to offer a service which was too good to be true.

The availability of a huge library of music at your finger tips, in full at a moment's notice had many of its users, including yours truly, thinking it would never last.

Thankfully, by coming up with a business model which worked - you have to listen to a short advert every five or six songs - Spotify will not only survive but is ready to challenge that behemoth of online music, iTunes.

All power to it.

I may just now treat myself to Spotify's 24-hour long ad-free option for 99 pence to celebrate.

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