Spotify signs licensing agreement with Universal Music - report

Wednesday, 22. July 2020 13:22

Swedish music streaming and media services provider Spotify Technology SA reportedly came to a new licensing agreement with Vivendi SA’s Universal Music Group on Wednesday.

According to The Wall Street Journal, the two companies agreed to collaborate on a massive catalog for streaming Spotify. The company itself signed the world’s largest record company on to Spotify's "two-sided marketplace", a strategy that was negotiated two years ago, but executives couldn’t agree on the terms as it involved music companies potentially paying for advertising.

Earlier this month, Spotify announced that its music streaming service is now available in Russia and 12 other European markets.

Related Links: Universal CorporationSpotify Technology SA
Author:
Breaking the News / TF