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Universal Music Group and Spotify Expand Strategic Relationship
SANTA MONICA, Calif. and STOCKHOLM , March 28, 2024 /PRNewswire/ -- Universal Music Group (UMG), the world-leader in music-based entertainment and Spotify, the world's most popular audio streaming subscription service today announced an expansion of their strategic relationship that will further amplify music discovery and social interaction and enhance fan experiences across the platform for UMG's family of artists and songwriters.
Under the agreement, Spotify will make available a series of new promotional and social features that will help artists drive interaction and generate excitement around new releases. To start, UMG artists will have the ability to share teasers of upcoming music on Spotify to increase fan engagement and pre-save activity before a new release.
Additionally, a new agreement with Universal Music Publishing Group (UMPG) will enable Spotify to distribute music videos in the US, enabling deeper experiences with the songs, the artists, and the songwriters.
The companies will continue to explore additional features that allow fans to discover artists and propel virality of new releases. They will share more details about these new tools and how artists, songwriters and fans can leverage them in the near future.
Sir Lucian Grainge , Chairman & CEO UMG: "We're excited to broaden our relationship with Spotify through the introduction of new content offerings and collaborations that will bring deeper 'social music' experiences to the platform. We're always striving to expand opportunities for UMG artists and songwriters to elevate engagement with their fans, especially in the introduction of new music and artist-centric initiatives. Spotify has been a committed partner in creating tools that help maximize attribution and fair pay for artists and songwriters, and this demonstrates that win-win partnerships between music companies and platforms create an environment where innovation, artist compensation and next-generation fan experiences can coexist and move the industry forward."
Daniel Ek , Founder & CEO, said: "UMG has consistently been a progressive partner on behalf of their artists and songwriters, contributing to our product development efforts of experimental tools and adopting them early to help artists stand out. The forthcoming features will put more power in the hands of artists and their teams to help them authentically express themselves, efficiently promote their work, and better monetize their art."
At Universal Music Group, we exist to shape culture through the power of artistry. UMG is the world leader in music-based entertainment, with a broad array of businesses engaged in recorded music, music publishing, merchandising and audiovisual content. Featuring the most comprehensive catalogue of recordings and songs across every musical genre, UMG identifies and develops artists and produces and distributes the most critically acclaimed and commercially successful music in the world. Committed to artistry, innovation and entrepreneurship, UMG fosters the development of services, platforms and business models in order to broaden artistic and commercial opportunities for our artists and create new experiences for fans. For more information on Universal Music Group, please visit universalmusic.com .
Spotify's platform revolutionized music listening forever when we launched in 2008. Today, more listeners than ever can discover, manage and enjoy over 100 million tracks, more than 5 million podcasts titles, and 350,000 audiobooks a la carte on Spotify. We are the world's most popular audio streaming subscription service with more than 602 million users, including 236 million subscribers across 184 markets.
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