Universal Music Group and Spotify on Sunday announced a huge multi-year direct deal that will affect both recording and publishing royalty rates.

Universal Music Group (UMG) , the world's biggest music label, and Swedish streaming giant Spotify have reached a new multi-year agreement for recorded music and music publishing, they said on Sunday.

Universal Music Group, the world’s largest music company, and streaming behemoth Spotify yesterday announced a multi-year direct deal that will affect

Spotify (SPOT) and Universal Music Group (UMGNF) entered a new multi-year agreement aimed at enhancing the music streaming experience for both artists and consumers.