Universal Music Group And Spotify Forge New Multi-Year Deal To Revolutionize Music Streaming

Universal Music Group (UMG) and Spotify have announced new multi-year agreements for Recorded Music and Music Publishing, focusing on growth, innovation, and advancing artist and songwriter success.

Sir Lucian Grainge, Chairman and CEO of UMG, said, "This partnership aligns with our vision for the future of music subscription, enhancing monetization for artists and songwriters while improving consumer offerings."

Daniel Ek, Founder and CEO of Spotify, added, "This partnership ensures we continue delivering record payouts to artists and songwriters while innovating to attract a broader audience worldwide."

The agreements will foster the next era of streaming innovation, offering new paid subscription tiers, music and non-music content bundling, and a richer audio-visual catalog. By enhancing fan engagement and amplifying artist connections, this collaboration aims to drive growth and retention in the music industry.

Additionally, the publishing deal strengthens a direct license between Spotify and Universal Music Publishing Group, benefiting songwriters across several countries.

Both companies reaffirm their commitment to artist-centric principles, ensuring fair rewards for artists and protecting streaming royalties through robust fraud detection and enforcement systems.