Representatives of UMG and Spotify said that the new agreement will contribute to the growth and increase of making money. Market participants will work to improve the conditions of the authors of songs and musicians and strengthen the consumer experience. In particular, Spotify and UMG will expand the paid subscription range, offer new types of content, and develop sentences that combine music with other media.
According to Sir Lucian Grenja, General Manager of Evrensel Music Group, this agreement strengthens the partnership with Spotify and encourages movement to more favorable conditions for artists. In contrast, Spotify Daniel’s additional president said the company would continue to increase payments to artists and songwriters and make subscriptions more attractive for a large audience around the world.
The agreement also includes a direct license between Spotify and Universal Music Publishing Group for countries such as Spotify and the United States.
Source: Ferra
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