Spotify, UMG Ink Multi-Year Global License Agreement
Streaming service Spotify and Universal Music Group have entered into a new, multi-year global license agreement, allowing UMG to “deepen its leading role as an early adopter of future products,” according to a statement, and to offer feedback to Spotify’s development team. The two companies’ previous contract ended in early 2019.
Daniel Ek, Chairman & CEO of Spotify, said, “From their early experimentation with Marquee, to testing new experiences like Canvas, Universal Music Group has been an important partner in helping to shape the development of our marketing tools. With today’s announcement, we will expand on this level of early stage innovation and further strengthen our partnership and shared vision for helping advance artists at all stages of their careers. We’ve said all along, the goal of our Marketplace strategy is to harness Spotify’s ability to connect artists with fans on a scale that has never before existed and bring new opportunities to the industry. Together, we look forward to reinvesting in and building new tools and offerings for artists around the world.”
Sir Lucian Grainge, Chairman and CEO of Universal Music Group, said, “With this agreement, UMG and Spotify are more aligned than ever in our commitment to ensuring the entire music ecosystem thrives and reaches new audiences around the globe. Given our commitment to innovation and early adoption of music technologies, and Spotify’s leadership in the development of forward-thinking tools, our new partnership will provide our artists with new and powerful opportunities to connect with fans on Spotify’s growing platform. Working together, our teams will expand and accelerate our collaborative efforts to deliver artist-focused initiatives, strategic marketing campaigns and new offerings to provide exciting new experiences for fans worldwide.”
In April, Spotify inked a new licensing agreement with Warner Music Group.
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