The joint statement did not provide details on the value or specific length of the agreement, but said UMG and Spotify “will collaborate closely to advance the next era of streaming innovation.”
The deal notably “establishes a direct license between Spotify and Universal Music Publishing Group across Spotify’s current product portfolio in the US and several other countries,“ the companies said.
It appears to indicate a sign of compromise when it comes to Spotify’s controversial “bundling” rollout, which saw the Stockholm-based company reclassify its paid streaming plans to include audiobooks – meaning payments were split between music and book publishers.
The Mechanical Licensing Collective – a non-profit entity under the US Copyright Office that was created under the MMA – sued Spotify over the issue, saying the company was grossly underpaying songwriters, composers and publishers.
“This agreement furthers and broadens the collaboration with Spotify for both our labels and music publisher, advancing artist-centric principles to drive greater monetisation for artists and songwriters, as well as enhancing product offerings for consumers,“ Grainge said.
The partnership will help Spotify make “paid music subscriptions even more attractive to a broader audience of fans around the world,“ that company’s CEO Daniel Ek said in the statement. – AFP
Read More Details
Finally We wish PressBee provided you with enough information of ( Universal, Spotify ink multi-year deal )
Also on site :