PaidContent.co.uk has had confirmation from Apple that the Spotify iPhone app has been approved and will be available to download shortly.

A spokesman told the site that "The current status as of right now is it's been approved. We've been in constant communication working with the developer and have already notified Spotify that the app will be in the app store very soon."

It was uncertain whether Apple would approve the Spotify app, given that it will pose a competitive threat to paid music downloads from iTunes.

Spotify rocks Sweden

In Spotify's home country of Sweden, major label Universal recently said it is already earning more money from Spotify than it does from iTunes.

The Spotify app is expected to replicate the PC model of a £10 monthly subscription (or a money-saving annual fee) to listen to ad-free music, but without the option of a free, ad-supported service as on the PC.

There is no confirmation yet on streaming bit-rates for the music. The PC app uses the Ogg Vorbis code at 160kbps for free tunes, rising to 320kbps for subscribers. Spotify is a Europe-only service at the moment, remaining in invitation-only beta everywhere but the UK.

If Spotify does appear on the iPhone it would open the door to US services such Rhapsody, whose owner Real Networks has already submitted its iPhone app to Cupertino.

Via Paidcontent.co.uk.