Spotify has inked a new multi-year agreement with Warner Music Group (WMG) for recording and publishing music. The deal grants Spotify a direct license from WMG's music publishing arm, Warner Chappell Music, which boasts over 1 million copyrights in the US and other countries. Financial details remain undisclosed. The partnership aims to expand paid subscription tiers and introduce new content bundles. This follows a similar agreement between Spotify and Universal Music Group, the world's largest music label.
, which owns labels behind artists such as Ed Sheeran and Dua Lipa, signed a new multi-year deal for recording and publishing music, the companies said on Thursday.
The financial terms of the deal were not disclosed. Spotify and WMG declined to comment when contacted by Reuters. The Swedish streaming giant’s deal with WMG follows a similar announcement with the world’s biggest music label, Universal Music Group, which established a direct license between the two companies across Spotify’s portfolio.
Separately, WMG, which also represents artists such as Adele, Wiz Khalifa and Madonna, acquired rights of a controlling stake in Tempo Music that it said would boost Warner Chappell’s catalog.
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