Adele, Coldplay, the Black Keys and other top artists are not allowing music services to play their latest music because they say the licensing fees are not as lucrative as their income from the sale of their music. The tactic of withholding music from Spotify and other music services is similar to one deployed by studios that delay releasing their titles to pay-TV and streaming services, but it could hurt music services if it becomes commonplace, said Needham analyst Laura Martin. "It certainly hurts Spotify's perceived value if the consumer frequently searches for songs that aren't there, even if that represents a small fraction of titles," Martin said.

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