Spotify and Universal Music Group have entered a multi-year agreement aimed at implementing a tiered subscription model to benefit superfans. This partnership aligns with UMG's vision of 'Streaming 2.0', which anticipates offerings like early music access, exclusive editions, hi-res audio, and artist interactions. While specifics of the deal remain undisclosed, it reportedly also increases royalty rates, potentially addressing previous criticisms from music publishers over Spotify's royalty structures. UMG's collaboration with Amazon Music on similar terms further illustrates this evolving strategy in the music streaming industry.
UMG chairman and CEO Sir Lucian Grainge called the agreement "precisely the kind of partnership development" the company hoped for when describing Streaming 2.0.
The deal also "appears" to increase royalty rates, the National Music Publishers Association told Variety.
The companies have been rumored to be discussing such a deal for months, indicating a growing trend towards 'Super-Premium' subscriptions.
UMG also referenced Streaming 2.0 when it signed an agreement with Amazon Music last month, pointing to a larger strategy in the streaming landscape.
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