Spotify and Universal Music have entered into multi-year agreements to improve the experience for artists and users
By ForGeeks Spotify and Universal Music Group (UMG) have announced new multi-year agreements that they say will benefit artists and listeners alike. This includes new subscription plans, music and content bundling offers, and an expanded audiovisual catalog.
One of the key features of these agreements is direct licensing between Spotify and Universal Music Publishing Group in the U.S. and several other countries. This could mean that Spotify will start increasing payments to artists, at least in the US and other specified countries. It also emphasizes that both companies continue to adhere to «artist-centric» principles, which ensures that artists are adequately compensated for their contributions to audiences.
The agreements also address the development of Streaming 2.0, UMG’s vision for the future of music subscriptions. As part of these agreements, the two companies have agreed to work closely together to improve monetization and offer more diverse products to users.
According to Sir Lucian Grainge, chairman and CEO of Universal Music Group, «this agreement deepens and expands the partnership with Spotify by promoting artist-centric principles that will drive more revenue for musicians and songwriters, as well as improve product offerings for consumers.»
According to Sir Lucian Grainge, chairman and CEO of Universal Music Group, «this agreement deepens and expands the partnership with Spotify by promoting artist-centric principles that will drive more revenue for musicians and songwriters, as well as improve product offerings for consumers.
