Spotify, the giant of services of transmission in direct transmission of Swedish audio, and the greater producer of world music, Universal Music Group, closed this Wednesday an agreement for a “bilateral market” in which both companies will exchange services.
Spotify you will gain greater access to the catalog of Universal, which, in return, will become one of the first to adopt innovative services from the Swedish company to promote music and new content.
Spotify It had already presented this type of agreement as a priority since it went public two years ago, as one of the strategic measures to increase its returns.
The agreement, of which the details have not been revealed, will be in force for several years and represents a turn in the traditional relationship of Spotify with the music labels to which it pays a large part of its income for rights.
This type of market in two directions, which promotes Spotify, it would allow you to receive income from musicians so that your content is better promoted within the application, with notifications, recommendations or analytical tools.