Shares in Universal Music Group rose after the music label said it signed a multiyear agreement for recorded music and music publishing with Spotify. Shares in Universal Music were 6.2% higher at 25.73 euros in early European trading on Monday.

The new publishing agreement establishes a direct license between Spotify and Universal Music Publishing Group.

Universal Music Group (UMG), the world's biggest music label, and Swedish streaming giant Spotify have reached a new multi-year agreement for recorded music and music publishing, they said on Sunday.

It’s official: as MBW reported earlier, Spotify and Universal Music Group have inked a new multi-year licensing agreement. Both sides of the deal have now confirmed their fresh alliance.

Spotify and Universal have reached a multi-year publishing agreement, which will see new subscription tiers and a richer content catalogue.

Spotify and Universal Music Group (UMG) have signed a new multi-year agreement for recorded music and music publishing. The partnership, which is focused on growth and innovation, will help "the advancement of artists' and songwriters' success."

Spotify (SPOT) and Universal Music Group (UMGNF) entered a new multi-year agreement aimed at enhancing the music streaming experience for both artists and consumers.

Universal Music Group NV and Spotify Technology SA reached a new multiyear distribution agreement that includes compensation for recorded songs and publishing rights.

Spotify and the Universal Music Group have struck a new deal that will expand platform monetization and change how songwriters get paid for streams.