April 4, 2017 / 2:22 PM / 6 months ago

Spotify and Universal Music agree multi-year license deal

April 4 (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. (Reporting by Stockholm Newsroom)

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