How Spotify got the big record labels on board

Spotify, the European peer-to-peer music streaming service that gives its users access to millions of songs for free is gaining more buzz every day. The service already has millions of users and has managed what many thought was impossible: it got the big record labels on board a free service and gained access to their music libraries.
Spotify has deals with Sony BMG, Universal Music, Warner Music, EMI and Merlin. The first four of these are often called the “big four” record companies.
How did Spotify pull this off?

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