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Monday, February 25, 2013

Music service Spotify hooks up with Ford in first vehicle foray, (NYSE: F)

Streaming music service Spotify has partnered with Ford Motor Co to allow its subscribers to listen to music in more than one million Ford vehicles in North America. Owners of Ford models with SYNC AppLink can access Spotify's catalog of more than 20 million songs through voice activation using its smartphone app.The deal, announced by both companies on Monday, is Spotify's first collaboration with an automaker.Spotify is a free on-demand streaming music service that also offers a subscription package that allows listeners to hear music without interruptions from commercials and gain access to play lists and preferences from any device anytime.Spotify says it has 20 million active users worldwide, with 25 percent of them paying for subscriptions.

Ford Motor Company (Ford) is a producer of cars and trucks. Shares of F fell by 0.08% or $-0.01/share to $12.47. In the past year, the shares have traded as low as $8.82 and as high as $14.30. On average, 51257100 shares of F exchange hands on a given day and today's volume is recorded at 4478896.