Spotify to boost premium pay service with Universal Music deal | Reuters

Spotify to boost premium pay service with Universal Music deal | Reuters

Spotify to boost premium pay service with Universal Music deal | Reuters

Music streaming service Spotify said on Tuesday it had signed a deal with Universal Music Group that lets artists release new albums exclusively on its paying premium service for two weeks.Spotify, a rival to Apple Music, has yet to report a profit as it expands, but is under pressure from some artists who have boycotted the usually free service and needs to show investors it can generate cash as it considers a U.S. listing.The multi-year license agreement with Universal Music could make Spotify more attractive to Universal Music’s artists, who include Taylor Swift, Adele, Lady Gaga, Coldplay and Kanye West.”We know that not every album by every artist should be released the same way, and we’ve worked hard with UMG to develop a new, flexible release policy,” Spotify Chairman and Chief Executive Officer Daniel Ek said in a statement.

Källa: Spotify to boost premium pay service with Universal Music deal | Reuters

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