• A big week for Spotify as it has a triple-header of items today. First, Spotify has announced that it is the No. 2 revenue source for music labels, still trailing massively behind iTunes, which obviously holds the No. 1 spot.

  • Second, Spotify has inked a huge promotional global-distribution deal with Yahoo!, which will most likely end in a Spotify-embedded Yahoo! app that will feature entertainment content from Yahoo!

  • Third and finally, a new Spotify “Artists App” has just been launched that offers an in-depth look at specific genres and catalogs. Right now, Quincy Jones, Rancid, Disturbed and Tiesto comprise the first round of artist offerings, with more artists expected to add apps in the coming weeks, according to Spotify.

  • Isle Of Wight Festival-goers got nailed by a torrential downpour, equivalent to a month’s worth of rain in one night, right before the festival weekend. Ticket holders were stranded on the island, forced to wait in a line of traffic that extended for seven miles, some even sleeping in their cars while waiting to get to the festival campground, which was more like a giant mud bath.

  • Music mogul Russell Simmons has discovered the secret to peace in the Middle East while on a recent trip to Israel: “A little trust, and it’s over,” he said. Oh, is that all? No problem.

  • The full playlist for the Olympic Opening Ceremony in London on July 27 has been leaked. Officials will not confirm that the 86-song tracklist, mainly compiled by Danny Boyle, is the official soundtrack for the event or not. Artists on this list include U.K. classics like the Beatles, Queen and David Bowie, as well as more contemporary artists like Arctic Monkeys and Radiohead.

  • Kickstarter has announced that it will keep a live stats page going on its website as opposed to its not-so-frequent updates via blog posts. The page will display information like total dollars pledged and success rate per category, updated once a day.

  • Live Nation announced on Tuesday that it has acquired Hard Events, an L.A.-based company that puts on electronic music festivals and concerts across North America. The sale comes with some concern from the electronic dance community, the fear being that a “bubble is taking hold” of the genre, “jeopardizing the creative and commercial health of the music.”

  • And of course, the news we’ve all been waiting for: 98 Degrees plan to reunite for a one-night-only show at the Summer Mixtape Festival in Hershey, PA, on August 18.