Spotify and Universal Music Group have announced a new, multi-year direct licensing pact that will cover the United States and several other companies, according to a Sunday release. "When we first presented our vision for the next stage in the evolution of music subscription several months ago -- Steaming 2.

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

Universal Music Group, the world’s largest music company, and streaming behemoth Spotify yesterday announced a multi-year direct deal that will affect

Spotify is probably the worst thing that has happened to musicians.” Despite new agreements between the world’s largest music label and one of the largest providers of music streaming services, the Icelandic artist’s words continue to ring true.

Spotify and Universal have reached a multi-year publishing agreement, which will see new subscription tiers and a richer content catalogue.

Shares in Universal Music Group rose after the music label said it signed a multiyear agreement for recorded music and music publishing with Spotify. Shares in Universal Music were 6.2% higher at 25.73 euros in early European trading on Monday.

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

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.