Spotify has made momentous changes to its service since it was introduced, with the adding up of social traits to allow consumers bond with pals and share music.

Spotify aims to become the premier music service and is seeking to challenge iTunes domination. The motive is to make it the main source of music for users across the globe. It has already added various new features in its latest upgrade and also increase in size.

The last time a young entrepreneur had tried to put to into practice his dream and promise of revolutionizing music with some computer software, the entertainment industry ended him suing him for over a billion Dollars, but that has not managed to dampen some of the spirits out there.

In a Monday statement, the Swedish digital music service Spotify said that its music streaming service has been extended to mobiles – as it has worked out an agreement for the launch of the mobile offering on the Apple iPhone and iPod Touch; as well as phones using the Google Android platform.

According to a Forbes magazine report, Asia's richest man, Li Ka-Shing has supposedly made a $50 million investment to acquire a minority stake in the online streaming music service, Spotify, which is looking at global expansion and is likely to offer more premium services.