Spotify Teams Up With European Companies For Regulatory Action Against Apple

Music streaming service Spotify Technology S.A. SPOT joined other media firms like Deezer to urge the European Commission to punish Apple Inc AAPL for anti-competitive and unfair practices.
They jointly wrote to the European Union antitrust regulator's Executive Vice-President Margrethe Vestager for prompt action against Apple for the welfare of the consumers, Reuters reports.
Spotify has for years accused Apple of abusing its influence by exploiting its App Store rules to suppress competition.
In 2022, Spotify CEO Daniel Ek reportedly spoke with competition commissioner Margrethe Vestager regarding Apple's "anti-competitive conduct," citing other regulators' harsh actions, including in Japan, the Netherlands, and South Korea.
Spotify raised antitrust complaints against Apple in various countries, alleging Apple's 30% App Store commission forced Spotify to "artificially inflate" its prices.
Most of the Big Techs, including Meta Platforms Inc META, Amazon.com Inc AMZN, Alphabet Inc GOOG GOOGL, faced regulatory flak for exploiting their influence to suppress smaller players.
Price action: AAPL shares traded higher by 0.97% at $137.26 on the last check Wednesday.
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