Spotify and Universal Music Group have struck a new multi-year agreement for recorded music and music publishing “focused on growth, innovation and the advancement of artists' and songwriters' success.

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.

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

The deal establishes a direct license between Spotify and Universal Music across the streaming subscription service’s current product portfolio in the U.S. and beyond, the companies said.

Spotify and Universal Music Group (UMG) have signed a new multi-year agreement for recorded music and music publishing. The partnership, which is focused on growth and innovation, will help "the advancement of artists' and songwriters' success."

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.

Universal Music Group NV and Spotify Technology SA reached a new multiyear distribution agreement that includes compensation for recorded songs and publishing rights.

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

Spotify and the Universal Music Group have struck a new deal that will expand platform monetization and change how songwriters get paid for streams.