Spotify, Universal Music Group Strike Multi-Year Deal

deadline.com:

Spotify and Universal Music Group have struck a new multi-year agreement for recorded music and music publishing “focused on growth, innovation and the advancement of artists’ and songwriters’ success.” Per the deal, consumers and artists alike will gain access to new paid subscription tiers, bundling options for music and other audio content and a richer catalog of audio-visual offerings.

The collaboration aims to “advance the next era of streaming innovation” and continue subscriber growth and retention by deepening artist-fan interactions and advancing music monetization.

The publishing agreement establishes a direct license between Spotify and Universal Music Publishing Group across Spotify’s current product portfolio in the U.S.

and several other countries, reinforcing a “mutually beneficial relationship for songwriters on the platform,” per UMG’s press release on the matter.