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The online music streaming service, Grooveshark, announced that they have started accepting Bitcoin payments for their premium services. That makes Grooveshark one of the first music industry companies to accept cryptocurrencies for their services and might lead the way for other similar services such as Spotify and Napster to do the same.
Curtis “50 Cent” Jackson also announced that he would accept Bitcoins for his latest release “Animal Ambition”, which was probably the first mainstream album to be sold in Bitcoins. Now with larger companies integrating it, it might just be a matter of time before we can finally buy and stream music anonymously.
Bitcoin as a payment method is clearly listed in Grooveshark’s payment site, where it has been integrated next to PayPal. Here you can choose between a monthly and a yearly premium subscription, costing relatively $5 for a month and $50 for a year. The payments are processed through a third-party payments provider, however we aren’t familiar with who the company has chosen to go with.
Grooveshark has not made any public announcement regarding integrating Bitcoin as a payment method, but according to NewsBTC, a user on reddit posted an email he received from them regarding the integration of Bitcoins:
” Hello! Within the past year we received an email from you requesting a Bitcoin payment option. I am writing to give you some great news – We now accept Bitcoin payments for premium subscriptions! You can use this payment option by visiting http://grooveshark.com/#!/settings/subscription and using the upgrade option. We appreciate you letting us know you’d like to see this payment option so we could continue to improve for our users. Rock on!
Best,
Jessica – Community Developer”
Now we can simply wait and see if other music services will follow troop or if they believe that the Bitcoin market is not something worth getting in to.