Spotify, Universal sign multi-year global licence agreement

Source:AFP Published: 2017/4/5 19:08:39

Spotify, the world's largest music streaming company, and Universal Music Group said Tuesday they have signed a new multi-year global licence agreement.

Under the deal, the terms of which were not disclosed, Spotify's paying subscribers can have access to a new album by a Universal artist for a period of two weeks after its release, the two companies said in a joint statement.

But "singles are available on Spotify for all listeners," its chairman and CEO Daniel Ek said in the statement.

Since it was founded in 2008, the online music listening service has never been able to generate a net profit, with the majority of its turnover going to the rights holders such as artists, producers and record majors.

For its part, the Universal Music Group, the world's largest record label, will also get unprecedented access to data, "creating the foundation for new tools for artists and labels to expand, engage and build deeper connections with their fans."

The musicians will know better about their listeners' habits and profiles based on Spotify's data.

Posted in: MUSIC

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