Spotify and Universal Music Group have struck major deal.
The new global licensing deal will allow UMG — who represents Taylor Swift, Drake, Lady Gaga, Kanye West and more — to promote its artists via Spotify. In addition, associated acts will have early access to the platform’s latest technology.
According to both partners, this move will allow UMG to “deepen its leading role as an early adopter of future products” via Spotify. Plus, the company will collaborate on “state-of-the-art marketing campaigns across Spotify’s platform.”
UMG chairman and CEO Lucian Grainge says, “With this agreement, UMG and Spotify are more aligned than ever in our commitment to ensuring the entire music ecosystem thrives and reaches new audiences around the globe.”
Spotify chairman and Chief Executive Officer Daniel Ek says this partnership will “advance artists of all stages in their careers.”
A possible downside to this partnership is that independent artists might be even further pushed out of Spotify’s editorial playlists and analytics technology which would help them grow their accounts and careers. However, how the partnership is implemented in actuality remains to be seen, so who’s to say we can’t have our cake and eat it too?
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Source: NY Post
This article was first published on Your EDM. Source: Spotify & Universal Music Group Strike Major Global Licensing Deal
source https://www.youredm.com/2020/07/22/spotify-umg-strike-major-deal/
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