Spotify has announced plans to update its iPhone app in Europe to allow users to purchase subscriptions and audiobooks directly within the app starting in March. Currently, Apple's App Store policies do not allow third-party apps to offer in-app purchases or direct billing on iOS platforms. A new European law called the Digital Markets Act will require "gatekeepers" like Apple to allow third-party app distribution and direct billing by developers. Spotify was heavily involved in lobbying for the DMA, which takes effect in March.
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00:00 It's Benzinga and here's what's on the block.
00:02 Spotify has announced plans to update its iPhone app in Europe to allow users to purchase
00:06 subscriptions and audiobooks directly within the app starting in March.
00:11 Currently Apple's app store policies do not allow third-party apps to offer in-app purchases
00:15 or direct billing on iOS platforms.
00:17 A new European law called the Digital Markets Act will require gatekeepers like Apple to
00:22 allow third-party app distribution and direct billing by developers.
00:26 Spotify was heavily involved in lobbying for the DMA, which takes effect in March.
00:30 For all things money, visit Benzinga.com.
00:32 Ciao.