Jonathan La | Nur Photo | Getty Picture Club
The world’s largest music brand and Swedish streaming media giant Global Music Group (UMG) Spotify They said on Sunday that they had reached a new years of agreement on recording music and music publishing.
They stated in a statement that the issuance agreement establishes a direct license for product portfolios of Spotify between Spotify between Spotify and UMG.
The two companies said: “Artists, songwriters and consumers will benefit from new and continuous development of products, new paid subscription levels, binding of music and non -music content, and richer audio and video content catalogs.”
Daniel Ek, the founder and CEO of Spotify, said that the cooperation will ensure continuous innovation and make music subscriptions more attractive to a wider global audience.
Spotify has layoffs, withdrawn from podcasts in the past year, and reduces marketing expenditures to improve profitability. The company also raised the price of the United States to meet the demand for its high -quality products.
