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Spotify and Warner Music Group (WMG) presented a new multi -year agreement that covers both recorded musical and musical editions, companies reported Thursday. WMG labels behind popular artists such as Dua Lipa, Coldplay and Ed Sheeran.
Companies have stated in a press release that “the new business will help new fan experiences, deeper music and video catalogs, further paid subscription levels and differentiated content packages.”
Daniel EK, CEO of Spotify, said on Tuesday that the company is offering A new “Superfan” premium level This includes additional features for subscribers. Comments come when Spotify has been teasing the Hi-Fi level for years.
The agreement between Spotify and WMG is similar between musical streaming service and Universal Music Group (UMG) reported Two weeks ago.
With these new offers, Spotify has the opportunity to launch new offers to attract more subscribers and increase revenue.
“For Spotify, 2025 is the year of accelerated implementation and Warner Music Group partners will share our commitment to fast innovation and lasting investments in our leading music,” EK said in a press release. “Together, we reflect opportunities for the audience worldwide – they make paid music subscriptions more attractive while supporting artists and songwriters alike.”
The shop presents a direct licensing model with Warner Chappell Music, which has more than 1 million copyright in the United States and many other countries.
“This main agreement provides new benefits for artists, songwriters and fans while unlocking further cooperation that expands the musical ecosystem,” said Robert Kyncl, WMG CEO in the announcement. “This is a major step forward in the idea of greater coordination between rightholders and streaming services. Together with Spotify, we are waiting to increase the value of the music as we increase growth, effect and innovation. ”
The financial terms of the new agreement has not been published.
On Tuesday, Spotify reported his fourth quarter revenue and was a first full profitability of 17 years ago.
Quarterly operating income reached a record € 477 million ($ 509.48 million), resulting in the total operating income of the 2024 financial year EUR 1.4 billion ($ 1.495 billion). Spotify has submitted 35 million Monthly Active Users (MAUS), the largest net supplement in the company’s fourth quarter, raised to a total of 675 million.
