00:00 It's Benzinga and here's what's on the block.
00:02 Spotify has announced plans to update its iPhone app in Europe to allow users to purchase
00:06 subscriptions and audiobooks directly within the app starting in March.
00:11 Currently Apple's app store policies do not allow third-party apps to offer in-app purchases
00:15 or direct billing on iOS platforms.
00:17 A new European law called the Digital Markets Act will require gatekeepers like Apple to
00:22 allow third-party app distribution and direct billing by developers.
00:26 Spotify was heavily involved in lobbying for the DMA, which takes effect in March.
00:30 For all things money, visit Benzinga.com.
00:32 Ciao.
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