Spotify has agreed to a new licensing agreement with Universal Music Group, the companies announced today. As part of the deal, Spotify has agreed to allow new albums from Universal artists to be restricted to its premium service for up to two weeks moving forward, this according to The Verge. Spotify will also pay slightly less to UMG in royalty fees, according to sources close to the situation.
Spotify CEO Daniel Ek said, “Starting today, Universal artists can choose to release new albums on premium only for two weeks, offering subscribers an earlier chance to explore the complete creative work, while the singles are available across Spotify for all our listeners to enjoy.”
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