Spotify and Universal Music Group have struck a new multi-year agreement focused on driving subscriber growth and advancing music monetization.

The new publishing agreement establishes a direct license between Spotify and Universal Music Publishing Group.

Universal Music Group (UMG), the world's biggest music label, and Swedish streaming giant Spotify have reached a new multi-year agreement for recorded music and music publishing, they said on Sunday.

Spotify and Universal announced a new deal that sources say improves the payment structure for the streamer's controversial music-audiobooks 'bundle.'

It’s official: as MBW reported earlier, Spotify and Universal Music Group have inked a new multi-year licensing agreement. Both sides of the deal have now confirmed their fresh alliance.

Universal Music Group and Spotify have signed a new multi-year agreement, covering recorded music and publishing licenses across multiple countries. This partnership aims to enhance consumer offerings through innovation and new subscription models.

Spotify and Universal Music Group have announced a new, multi-year direct licensing pact that will cover the United States and several other companies, according to a Sunday release. "When we first presented our vision for the next stage in the evolution of music subscription several months ago -- Steaming 2.