Spotify and Universal Music Group have finalized a new and expanded multi-year global licensing agreement. As part of the arrangement, announced Wednesday July 22 , the label group deepens its role as an early adopter of Spotify's marketing tools and other tech features that both parties hope will foster more impactful connections between fans and artists in innovative ways. The music streaming leader last renewed with UMG in April In a statement to Billboard, Spotify chairman and CEO Daniel Ek explained that his company's mission is to "give creative artists the opportunity to live off their art, and fans the opportunity to enjoy and be inspired by it," adding, "our Marketplace strategy -- and the tools and services we build to help creator teams engage with, grow, and better monetize their fanbase -- are critical to this mission. Ek said, "Unlike other music promotion options, ours are native to our platform. So not only are artists reaching listeners when and where they are actively choosing to engage with music, but they are reaching listeners who've shown interest in the artist's music and have the potential to listen more.
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Spotify wants to sell stock to investors — but first it will need to convince them it's worth buying in to the complex process of selling music. It had 71 million paying subscribers and million monthly active listeners as of December, making it the largest streaming music service across the world by far. In general, Spotify gets two classes of licenses for the music it distributes: Sound Recording License agreements, which cover the rights to a particular recording, and Musical Composition License Agreements, which cover the people who own the rights to the song.
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Learn more. Soundtracks are streams of music, curated for business use. We group soundtracks by music genre, sound and business type to help venues like yours play music with a consistent vibe. Get a feel for some of our soundtracks below. With our simple drag-and-drop feature, you can easily convert your playlists directly from Spotify and it will automatically generate a soundtrack. Your soundtracks will be updated with new songs, matching the same mood, so they never become repetitive. This means you can spend more time on your business and less time worrying about what to play next.
Together, we look forward to reinvesting in and building new tools and offerings for artists around the world. Working together, our teams will expand and accelerate our collaborative efforts to deliver artist-focused initiatives, strategic marketing campaigns and new offerings to provide exciting new experiences for fans worldwide. Spotify transformed music listening forever when we launched in Our mission is to unlock the potential of human creativity by giving a million creative artists the opportunity to live off their art and billions of fans the opportunity to enjoy and be inspired by these creators. Everything we do is driven by our love for music and podcasts. Discover, manage, and share over 50 million tracks, including more than 1 million podcast titles, for free, or upgrade to Spotify Premium to access exclusive features for music including improved sound quality and an on-demand, offline, and ad-free listening experience.