Universal Music Group and Spotify join forces to seal a massive deal that could forever change the future of the music business.

Spotify and Universal Music Group have struck a new multi-year agreement focused on driving subscriber growth and advancing music monetization.

It’s official: as MBW reported earlier, Spotify and Universal Music Group have inked a new multi-year licensing agreement. Both sides of the deal have now confirmed their fresh alliance.

Universal Music Group (UMG) , the world's biggest music label, and Swedish streaming giant Spotify have reached a new multi-year agreement for recorded music and music publishing, they said on Sunday.

The deal establishes a direct license between the companies across Spotify’s current product portfolio in the U.S. and beyond.

The new publishing agreement establishes a direct license between Spotify and Universal Music Publishing Group.

The new pact, which broadens the streamer's UMG offerings, is a direct license that covers the U.S. and other territories The post Spotify, Universal Music Group Strike New Multi-Year Music Licensing Deal appeared first on TheWrap.

Universal Music Group NV and Spotify Technology SA reached a new multiyear distribution agreement that includes compensation for recorded songs and publishing rights.

Spotify and the Universal Music Group have struck a new deal that will expand platform monetization and change how songwriters get paid for streams.