HITS Daily Double


And then there were three. WMG announced via Instagram Thursday (8/24) that the music group’s long-awaited pact with Spotify is in the books.

Specifics of the renewed deal aren’t yet known, but it’s assumed WMG is getting similar perks to those worked out with UMG and Sony.

The locking down of Warner clears the path for Spotify’s planned direct listing.

“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,” Ole Obermann, WMG’s Chief Digital Officer, said of the renewed partnership with the biggest streaming service. “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.”