Published by Global Banking & Finance Review®
Posted on January 26, 2025
1 min readLast updated: January 27, 2026
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Universal Music Group and Spotify have signed a new multi-year agreement to enhance music streaming and publishing, introducing new subscription tiers and content bundling.
(Reuters) - 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 publishing agreement establishes a direct license between Spotify and UMG across Spotify's current product portfolio in the U.S. and several other countries, they said in a statement.
"Artists, songwriters and consumers will benefit from new and evolving offers, new paid subscription tiers, bundling of music and non-music content, and a richer audio and visual content catalog," the companies said.
The partnership will ensure constant innovation, making music subscriptions even more attractive to a broader worldwide audience, Spotify founder and CEO Daniel Ek said.
Spotify has laid off employees, pulled back podcasts and cut marketing spending over the past year to boost profitability. It has also raised prices of its U.S. plans to capitalize on demand for its premium products.
(Reporting by Rishabh Jaiswal in Bengaluru; Editing by Richard Chang)
The main topic is the new multi-year agreement between Universal Music Group and Spotify, focusing on recorded music and music publishing.
The agreement includes new subscription tiers, bundling of music and non-music content, and aims to enhance Spotify's product offerings.
Artists, songwriters, and consumers will benefit from the new and evolving offers resulting from the agreement.
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