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 is probably the worst thing that has happened to musicians.” Despite new agreements between the world’s largest music label and one of the largest providers of music streaming services, the Icelandic artist’s words continue to ring true.

Universal Music Group and Spotify on Sunday announced a huge multi-year direct deal that will affect both recording and publishing royalty rates.