Universal Music Group NV and Spotify Technology SA reached a new multiyear distribution agreement that includes compensation for recorded songs and publishing rights. The world’s largest record label and the leader in music streaming said the new deal reflects changes in Spotify’s business model,

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.

Universal Music Group, the world's largest music company, and Spotify, the world's largest paid streaming service, announced on Sunday new, multi-year agreements for recorded music and music publishing "focused on growth,

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

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, the world's largest music company, and streaming behemoth Spotify on Sunday announced a multi-year direct deal that will affect both recording and publishing royalty rates.