Breaking Now: Streaming music service Spotify has release a video of the iPhone app which they’ve just submitted to Apple, which means it could be out in a few weeks. They’ve also revealed more of their business model – mobile access on any device will require a premium subscription.

Interestingly, you’ll be able to use the app when there is no wireless connection. The application has an offline mode that allows users to temporarily cache playlists to their phone for use when there is no connection.