04:50 AM EST, 01/27/2025 (MT Newswires) -- Spotify Technology ( SPOT ) and Universal Music Group said Sunday that they signed new, multi-year agreements to collaborate on recorded music and music publishing.

The companies said their collaboration aims to advance streaming innovation and feature new offers, subscription tiers, music bundles, and non-music content.

The agreements also cover a direct license between the companies across Spotify's ( SPOT ) current portfolio in the US and certain other countries, according to the statement.

No financial details were disclosed.