Spotify and Universal Music agree multi-year license deal

Reuters News
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Posted: Apr 04, 2017 10:26 AM

(Reuters) - Music streaming service Spotify said on Tuesday it had signed a global, multi-year license agreement with Universal Music Group (UMG).

Spotify said in a statement the agreement would offer more flexibility for new releases.

The company, which has not yet shown a profit as it spends to grow internationally, is considering a potential U.S. stock market listing, according to a February TechCrunch report.

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(Reporting by Stockholm Newsroom)