Warner Music Group have signed their long-awaited new licensing deal with Spotfiy.
The move was announced just before 9pm UK time, unusually for a major label, via an Instagram post reading: “Good news for music lovers: Spotify and Warner Music Group have renewed their global partnership.”
Ole Obermann, chief digital officer, WMG, commented: “It's taken us a while to get here, but it’s been worth it, as we've arrived at a balanced set of future-focused deal terms. Together with Spotify, we've found inventive ways to reinforce the value of music, create additional benefits for artists, and excite their fans all over the world. Even with the current pace of growth, there’s still so much potential for music subscription to reach new audiences and territories."
No other details of the deal have been revealed as yet, although it’s likely it follows a similar template to the Universal deal announced in April, which allowed artists the option of windowing albums on Spotify’s premium service for two weeks before appearing on its free tier. Sony’s deal is also done, although it has never been formally announced. Warner likely won further concessions by holding out for so long.