Spotify reaches licensing deal with Warner Music

Spotify has reached a deal with Warner Music, the last of the three major record companies, meaning the label will provide its music to the streaming platform under renewed terms.

Warner follows Sony and Universal is reaching a deal, which is likely to include terms in which certain music is held back from non-paying subscribers for a period of time, the BBC reports.

Warner Music’s chief digital officer Ole Obermann announced the deal on Instagram, and said: "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."

Spotify’s deal with Universal, agreed in April, will allow artists to make their albums available to premium users only for the first two weeks – a move that potentially increases the incentive for users to subscribe.

The Warner deal paves the way for Spotify to float on the New York Stock Exchange. Unusually, though, it is not expected to have an IPO.

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