Spotify and Warner Music Group (WMG) have unveiled a new multi -year agreement which covers both recorded music and music publishing, companies announcement THURSDAY. WMG has labels behind popular artists like Dua Lipa, Coldplay and Ed Sheeran.
Companies have declared in a press release that “the New Deal will help to offer new experiences of fans, a deeper music and video catalog, more and more subscription levels and bundles of differentiated content.”
Spotify CEO Daniel Ek said on Tuesday that the company will offer A new level of premium “superfall” This will include additional features for subscribers. The comments come as Spotify teased a Hi-fi level For years.
The agreement between Spotify and WMG follows a similar between the music streaming service and universal music group (UMG) which was announcement Two weeks ago.
With these new offers, Spotify has the opportunity to launch new offers to attract more subscribers and increase income.
“For Spotify, 2025 is a year of accelerated execution, and our partners of Warner Music Group share our commitment to rapid innovation and supported investments in our main musical offers,” EK said in the press release. “Together, we push the limits of what is possible for the public around the world – making subscriptions to paid music more attractive while supporting artists and songwriters.”
The agreement presents a direct license model with Warner Chappell Music, which has a catalog of more than a million copyright in the United States and several other countries.
“This major agreement offers new advantages for artists, songwriters and fans while unlocking a more in-depth collaboration that widens the musical ecosystem,” said WMG CEO Robert Kyncl, in the announcement. “It is a big step forward in our vision of greater alignment between rights holders and streaming services. With Spotify, we are impatient to increase the value of music, because we stimulate growth, impact and innovation. »»
The financial terms of the New Deal have not been disclosed.
Tuesday, Spotify reported his fourth quarter gains And marked its first full year of profitability since its creation 17 years ago.
Its operating profit for the quarter has reached a record of 477 million euros ($ 509.48 million), which contributes to a total profit of 1.4 billion euros ($ 1.495 billion) for the ‘Exercise 2024. Spotify reported an addition of 35 million monthly active users (MAUS), the largest net addition of the fourth quarter in the history of the company, bringing its total to 675 million.
