Universal Music Group and Spotify sign new agreement to benefit artists, songwriters, and consumers

From Investing.com: 2025-01-26 15:05:36

Universal Music Group and Spotify have signed a new multi-year agreement for recorded music and music publishing. The deal includes a direct license between the two companies across Spotify’s current product portfolio in the U.S. and other countries. The agreement aims to benefit artists, songwriters, and consumers with new offers and subscription tiers.

Spotify founder and CEO Daniel Ek believes the partnership will drive constant innovation in the music industry and make subscriptions more appealing to a global audience. Spotify has taken measures to boost profitability, such as laying off employees, cutting marketing spending, and raising prices of its premium plans in the U.S. to meet demand.



Read more at Investing.com: Universal Music Group and Spotify strike new agreement By Reuters