From Paid Content:
Dgital content provider Aspiro will try growing its unlimited-music service through Nordic newspapers and a European expansion, after losses grew despite a recent nine-figure fundraising.
The Oslo-based vendor says its music service WiMP will be offered through Swedish newspaper Aftonbladet and Danish daily Politiken.
Aftonbladet publisher Schibsted took 73.4 percent ownership of Aspiro this year for 340 million Swedish krona ($50.8 million) in a bid to inject paid streaming content in to its news business.
But Aspiro has since issued SEK 100 million ($14.9 million) in new shares — three quarters of which were snapped up by a company controlled by Ferd Capital and Norwegian entertainment retailer Platekompaniet — to fuel expansion.
This shows that, whilst a streaming content provider is of strategic importance to a news publisher, the latest tranche of growth funding is coming from other places than news publishing.
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