Expanded Global Relationship For Recorded
Music and Music Publishing
Companies to Accelerate Product Innovation,
Advance Music Monetization and Deepen Engagement Between Artists
and Fans
SANTA
MONICA, Calif. and STOCKHOLM, Jan. 26,
2025 /PRNewswire/ -- Universal Music Group
(UMG), the world leader in music-based entertainment and
Spotify, the world's most popular audio streaming
subscription service, today announced new, multi-year agreements
for Recorded Music and Music Publishing focused on growth,
innovation and the advancement of artists' and songwriters'
success.
Sir Lucian Grainge, Chairman
& CEO, Universal Music Group said, "When we first presented our
vision for the next stage in the evolution of music subscription
several months ago—Steaming 2.0—this is precisely the kind of
partnership development we envisioned. This agreement furthers and
broadens the collaboration with Spotify for both our labels and
music publisher, advancing artist-centric principles to drive
greater monetization for artists and songwriters, as well as
enhancing product offerings for consumers."
Daniel Ek, Spotify's Founder and
CEO, said, "For nearly two decades, Spotify has made good on its
commitment to return the music industry to growth, ensuring that we
deliver record payouts to the benefit of artists and songwriters
each new year. This partnership ensures we can continue to deliver
on this promise by embracing the certainty that constant innovation
is key to making paid music subscriptions even more attractive to a
broader audience of fans around the world."
Under the new agreements, UMG and Spotify will collaborate
closely to advance the next era of streaming innovation. Artists,
songwriters and consumers will benefit from new and evolving
offers, new paid subscription tiers, bundling of music and
non-music content, and a richer audio and visual content catalog.
By deepening audience experiences, driving further engagement and
amplifying the connection between artists, songwriters and their
fans, the collaboration between these two companies will position
the industry for continued subscriber growth and retention.
The new publishing agreement establishes a direct license
between Spotify and Universal Music Publishing Group across
Spotify's current product portfolio in the U.S. and several other
countries, which reinforces a mutually beneficial relationship for
songwriters on the platform.
The new agreements also renew the companies' commitment to
artist-centric principles, ensuring that artists continue to be
properly rewarded for the share of audience engagement that they
drive and that their streaming royalties remain protected through
the platforms' application of its fraud detection and enforcement
systems.
Notes to editors:
About Universal Music Group
Universal Music Group exists to shape culture through the power
of artistry. UMG is the world leader in music-based entertainment,
with a broad array of businesses engaged in recorded music, music
publishing, merchandising and audiovisual content. Featuring the
most comprehensive catalogue of recordings and songs across every
musical genre, UMG identifies and develops artists and produces and
distributes the most critically acclaimed and commercially
successful music in the world. Committed to artistry, innovation
and entrepreneurship, UMG fosters the development of services,
platforms and business models in order to broaden artistic and
commercial opportunities for our artists and create new experiences
for fans. For more information,
visit www.universalmusic.com.
About Spotify
Since its launch in 2008, Spotify has revolutionised music
listening. Our move into podcasting brought innovation and a new
generation of listeners to the medium. In 2022, we took the next
leap, entering the fast-growing audiobook market—continuing to
shape the future of audio.
Today, more listeners than ever can discover, manage and
enjoy over 100 million tracks, 6.5 million podcast titles, and
350,000 audiobooks a la carte on Spotify. We are the world's most
popular audio streaming subscription service with more than 640
million users, including 252 million subscribers in more than 180
markets.
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